ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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snacks
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entertainment
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candy bars
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clothing
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Detailed explanation-1: -A spending plan should include all of your money coming in, money going out, and money put towards savings. True, in addition to regular monthly payments such as rent and bills, a spending plan should also include irregular payments such as family trips, medical co-pays and deposits to savings.
Detailed explanation-2: -A conscious spending plan includes money each month for guilt-free spending. Aim to dedicate 20% to 35% of your take-home income to guilt-free spending. This includes expenses like entertainment, dining, drinks, and shopping.
Detailed explanation-3: -A “Spending Plan” is similar to a budget, but a bit easier to manage and follow.
Detailed explanation-4: -List your income. List your expenses. Compare your income and expenses. List your resources and set priorities.