ECONOMICS (CBSE/UGC NET)

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ECONOMICS

BUDGETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Setting up automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases.
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Some common examples include car repairs, home repairs, medical bills, or a loss of income. In general, emergency savings can be used for large or small unplanned bills or payments that are not part of your routine monthly expenses and spending.

Detailed explanation-2: -Q. Which of the following is NOT true about emergency funds? They are used for anything listed on the budget.

Detailed explanation-3: -Which choice or choices best describes the purpose of an emergency fund?-An emergency fund prepares you for unexpected expenses.

Detailed explanation-4: -At the beginning of the month, make a plan for how you will spend your money that month. Write what you think you will earn and spend. Write down what you spend. At the end of the month, see if you spent what you planned. Use the information to help you plan the next month’s budget.

There is 1 question to complete.
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