ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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use credit excessively
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spend what you make (or less)
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repay college loan debts before other debt
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spend more $ than you make
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Detailed explanation-1: -What does it mean to live within your means? If you’re living within your means, you have enough money to cover all expenses. By adopting a personal finance plan and sticking to it, you can know your basic needs are covered along with other financial priorities.
Detailed explanation-2: -Spending less than you earn is one of the most important financial concepts to understand and live by. If you don’t live on less than you earn, you will never get ahead. Spending less than you earn may take some initial life changes, but the longer you do it, the easier it is to continue doing it.
Detailed explanation-3: -Living below your means is when you spend less money than you make. It also means you’re taking advantage of your income to make responsible money moves like saving up for the future and not maxing out your credit.
Detailed explanation-4: -What does it mean to live within your means? Simply put, this means cutting your expenses so you have money left over at the end of each month. By carefully budgeting your expenses, you should have a significant amount of money left over each month.
Detailed explanation-5: -Set Your Budget. Track Your Spending. Save Before Spending. Pay Down Debt. Pay with Cash or Debit. Plan Large Purchases to Avoid Impulse Spending. Wait for Sales. Ask for a Lower Price. More items