ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Knowing ways to avoid each pitfall can help you stick to a budget. One main reason people abandon budgets is simply because it’s difficult and can feel overwhelming. According to the Consumer Financial Protection Bureau, half of American consumers say they don’t even like to think about money.
Detailed explanation-2: -The first reason people avoid budgets is because it has a straight-jacket connotation. They think they can’t do anything if they’re on a budget. Another reason people avoid budgets is because they never had one that works.
Detailed explanation-3: -When you pay with a debit or ATM card, you are not borrowing money. You are spending your own money.
Detailed explanation-4: -What I think is most challenging when it comes to keeping a monthly budget is keeping a balance of money ad splitting it equally.