ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fixed Expenses.
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Discretionary Expenses.
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Savings
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All of the above.
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Detailed explanation-1: -And the internet is full of articles on the elements needed to create an effective budget: income, fixed expenses, variable expenses, and unplanned expenses. Those things are important, and plenty of financial experts can tell you how to incorporate them into a budget.
Detailed explanation-2: -At its core level, budgeting requires tracking five specific elements: income; expenses; savings; debt payments; and assets.
Detailed explanation-3: -Housing. Whether you own your own home or pay rent, the cost of housing is likely your biggest monthly expense. Utilities. Vehicles and transportation costs. Gas. Groceries, toiletries and other essential items. Internet, cable and streaming services. Cellphone. Debt payments. More items •26-Sept-2022
Detailed explanation-4: -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.