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: -A spending plan (also called a budget) is simply a plan you create to help you meet expenses and spend money the way you want to spend it. A good spending plan can help you stop “spending leaks”; in other words, it can keep you from spending money without thinking.
Detailed explanation-2: -A spending plan is a method for distributing your income among the mix of things you want and need. Creating a spending plan ahead of time will allow you to effectively manage your finances and determine where to best spend your money.
Detailed explanation-3: -Spending plans are decisions about how you spend your allowance. 2. A written spending plan is the best way to manage an allowance.
Detailed explanation-4: -Make a budget. Evaluate every purchase. Avoid fees and extra charges. Save on electricity and other utilities. Plan your meals. Reduce luxury beverages. Pay yourself first. Use what you have. More items •08-Jan-2023