ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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identify
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spend
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save
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None of the above
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Detailed explanation-1: -The main difference is that savers take in the big picture, while spenders only see things as they are, or as they appear to be at that moment in time. We say savers tend to have an Encompassing Perception, where spenders are more focused on their Perception of Detail.
Detailed explanation-2: -First and foremost, saving money is important because it helps protect you in the event of a financial emergency. Additionally, saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom.
Detailed explanation-3: -It helps in emergencies. Emergencies are always unexpected. Cushions against sudden job loss. You may have a good job now, but what if you were to lose that job? Helps finance those big-ticket items and major life events. Limits debt. Helps prepare for retirement.
Detailed explanation-4: -Eliminate Your Debt. Set Savings Goals. Pay Yourself First. Stop Smoking. Take a “Staycation” Spend to Save. Utility Savings. Pack Your Lunch. More items