ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Adjust your budget by removing money from other spending categories.
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Just leave it. It will probably work out fine.
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Ask a friend for the money you overspent.
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Take money from the Giving category. You’re giving to yourself
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Detailed explanation-1: -If you’re constantly overspending on your grocery budget or fun money, cash out those categories and use the envelope system to hold you accountable. Just go to the bank and pull out the cash amount you’ve budgeted for that category. Once the cash runs out, stop spending! It’s the ultimate accountability partner.
Detailed explanation-2: -See if another budget category has extra that you can take it from. Tell yourself that credit cards are not an option. Call your bill providers and tell them you’re behind. Reduce your grocery spending as much as possible. Return your extra purchases if you can. More items
Detailed explanation-3: -Review Your Spending. Costs are on the rise, and you feel it. Find Ways to Save. Once you know the budget lines inflation is hitting the hardest, you can start finding ways to save. Earn Extra Money. Your expenses are going up. Cut Some Expenses. Shop Around. Adjust Budget Lines. 26-Oct-2022
Detailed explanation-4: -Write down all the money you get in. Write down all your expenses: what you spend and what you have to pay back on loans. Work out your income minus your expenses. Work out a budget you can stick to. Check at the end of the month if you have spent what you budgeted for. If not, decide: 10-Jan-2023