ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How much money you plan to come in and go out during the month.
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How much you need to save
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How much money you need to earn
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How much money you spent last month
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Detailed explanation-1: -At its simplest, it’s a ledger detailing the spending decisions you intend to make. It estimates how much money will come in during the months ahead, and it allocates enough money to cover expenditures such as food, housing, transportation and insurance. A good budget also includes allocations for regular savings.
Detailed explanation-2: -A budget is a plan that shows you how you can spend your money every month. Making a budget can help you make sure you do not run out of money each month. A budget also will help you save money for your goals or for emergencies.
Detailed explanation-3: -A budget should include your income, savings, debt repayment, and general expenses.
Detailed explanation-4: -Calculate your monthly income. The first step when building a monthly budget is to determine how much money you make each month. Spend a month or two tracking your spending. Think about your financial priorities. Design your budget. Track your spending and refine your budget as needed. 09-Sept-2022
Detailed explanation-5: -Make a list of your values. Write down what matters to you and then put your values in order. Set your goals. Determine your income. Determine your expenses. Create your budget. Pay yourself first! Be careful with credit cards. Check back periodically.