ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Utilities, college fund, restaurants, and car insurance
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Cell phone bill, car insurance, shelter, and money for the movies
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Food, utilities, transportation, and college fund
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Food, utilities, shelter, and transportation
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Detailed explanation-1: -As Dave Ramsey lists them, the four walls are food, shelter (including utilities), transportation, and basic clothing. Ramsey recommends these be the first items on your budget especially when you have, “more month than money”.
Detailed explanation-2: -Basically, the four walls are the things you absolutely must pay for to keep on living. As Dave Ramsey lists them, the four walls are food, shelter, basic clothing, and basic transportation.
Detailed explanation-3: -When creating your budget, make sure the 4 Walls (food, utilities, shelter, and transportation-in that order), are budgeted for FIRST. If you’re struggling financially, making a plan for your money will give you peace of mind. A plan always does.
Detailed explanation-4: -The Four Main Types of Budgets and Budgeting Methods. There are four common types of budgets that companies use: (1) incremental, (2) activity-based, (3) value proposition, and (4) zero-based.
Detailed explanation-5: -Step 1: Write down your total income. This is your total take-home pay (after tax) for both you and, if you’re married, your spouse. Step 2: List your expenses. Think about your regular bills (mortgage, electricity, etc.) Step 3: Subtract expenses from income to equal zero. Step 4: Track your spending.