ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Surplus
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Deficit
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Either A or B
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None of the above
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Detailed explanation-1: -The basic rule of thumb is to divide your monthly after-tax income into three spending categories: 50% for needs, 30% for wants and 20% for savings or paying off debt. By regularly keeping your expenses balanced across these main spending areas, you can put your money to work more efficiently.
Detailed explanation-2: -How do you make a budget spreadsheet? Start by determining your take-home (net) income, then take a pulse on your current spending. Finally, apply the 50/30/20 rule: 50% toward needs, 30% toward wants and 20% toward savings and debt repayment.
Detailed explanation-3: -2. Operating budget. An operating budget shows a business’s projected revenue and the expenses associated with it for a period of time.
Detailed explanation-4: -Housing. Whether you own your own home or pay rent, the cost of housing is likely your biggest monthly expense. Utilities. Vehicles and transportation costs. Gas. Groceries, toiletries and other essential items. Internet, cable and streaming services. Cellphone. Debt payments. More items •26-Sept-2022