ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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envelope system
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check carbon
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Either A or B
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None of the above
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Detailed explanation-1: -Envelope budgeting is a budgeting system that focuses on discretionary spending-basically the money that’s left over after necessities and fixed expenses like rent are paid. The system uses physical or digital envelopes to separate expenses into categories.
Detailed explanation-2: -With the envelope method, the budgeter puts together a written budget, and then divvies up cash into separate envelopes for different spending categories. They must limit spending to just what is allotted in the envelope, and by using only what’s in each envelope, it’s impossible to overspend.
Detailed explanation-3: -The envelope system, also known as the envelope budgeting method, is a popular method for visualizing and maintaining a flexible budget. The key idea is to prioritize cash income to meet separate categories of household expenses in physically separate envelopes.
Detailed explanation-4: -Groceries. Restaurants. Gas. Medicine/pharmacy. Hair care/makeup. Car maintenance. Personal. Entertainment. More items •25-Oct-2022