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: -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-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: -Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget.
Detailed explanation-4: -Helps You Work Toward Long-Term Goals. Can Keep You from Overspending. Can Make Retirement Saving Easier. Helps You Prepare for Emergencies. Can Reveal Spending Habits. The Bottom Line.