ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income
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Irregular Income
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Gross Income
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Zero-Based Budget
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Detailed explanation-1: -Generally, the bills you should pay first are the ones that cover necessities-the main resources that keep you and your family safe and healthy. These necessities include shelter, water, heat and food. Once necessities are paid for, focus on expenses related to your vehicle.
Detailed explanation-2: -We recommend the 50/30/20 system, which splits your income across three major categories: 50% goes to necessities, 30% to wants and 20% to savings and debt repayment.
Detailed explanation-3: -You probably have bills for some (or all) of the things on your monthly expense list, but you may not have enough money to pay all of them. This is where prioritizing, or deciding what to pay first, comes in. Paying for shelter should always be the first priority, so you continue to have a roof over your head.
Detailed explanation-4: -Cost of Goods Sold. Operating Expenses. Financial Expenses. Extraordinary Expenses. Non-Operating Expenses.