ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Groceries
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Entertainment
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Cell Phone Bill
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New Car
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Detailed explanation-1: -Create your budget. Your budget should meet your “needs” first, then the “wants” that you can afford. Your expenses should be less than or equal to your total income. If your income is not enough to cover your expenses, adjust your budget (and your spending!) by deciding which expenses can be reduced.
Detailed explanation-2: -The grocery budget includes anything you could find at a neighborhood grocery store. We’re not talking Costco or Super Walmart where you can buy anything from dog food, to bed sets, to coffins, and lawnmowers. We’re talking your standard, neighborhood grocery store.
Detailed explanation-3: -Our 50/30/20 calculator divides your take-home income into suggested spending in three categories: 50% of net pay for needs, 30% for wants and 20% for savings and debt repayment. Find out how this budgeting approach applies to your money.
Detailed explanation-4: -Track Current Spending. Allocate a Percentage of Your Income. Avoid Eating Out. Plan Your Meals. Keep a Fridge Grocery List. Eat Before You Go to the Store. Be Careful with Coupons. Embrace the Bulk Section. More items •17-Dec-2021