ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Make sure you create a budget every single day.
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Make sure your budget is perfect before starting. If it isn’t just right, don’t use it.
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Check your calendar so you can plan for upcoming monthly expenses.
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Make sure you have enough money in your savings account to pull from if you overspend.
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Detailed explanation-1: -Step 1: Calculate your net income. The foundation of an effective budget is your net income. Step 2: Track your spending. Step 3: Set realistic goals. Step 4: Make a plan. Step 5: Adjust your spending to stay on budget. Step 6: Review your budget regularly.
Detailed explanation-2: -What is a good way to make sure you’re creating a budget that’s realistic? Check your calendar so you can plan for upcoming monthly expenses. Why is budgeting so important? It gives you control of your money and sets you up for financial success in the future.
Detailed explanation-3: -Budget Step 1: List Your Income. Budget Step 2: List Your Expenses. Budget Step 3: Subtract Expenses From Income. Budget Step 4: Track Your Expenses (All Month Long) Budget Step 5: Make a New Budget Before the Month Begins. 03-Feb-2023
Detailed explanation-4: -Gather your financial statement. Record all sources of income. Create a list of monthly expenses. Fixed Expenses. Variable Expenses. Total your monthly income and monthly expenses. Budget Spreadsheet Example. Set a goal.
Detailed explanation-5: -At the beginning of the month, make a plan for how you will spend your money that month. Write what you think you will earn and spend. Write down what you spend. At the end of the month, see if you spent what you planned. Use the information to help you plan the next month’s budget.