ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Spreadsheet budget
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Envelope method
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An app
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All of the above
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Detailed explanation-1: -b. a budget can help you keep track of your money.
Detailed explanation-2: -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-3: -Best overall free app: Mint. Best app for beginners: Goodbudget. Best app for serious budgeters: You Need a Budget (YNAB) Best app for small business owners: QuickBooks Online. Best app for business expenses: Expensify.
Detailed explanation-4: -Cost of Goods Sold. Operating Expenses. Financial Expenses. Extraordinary Expenses. Non-Operating Expenses.
Detailed explanation-5: -Zero-based budget. The concept of a zero-based budgeting method is simple: Income minus expenses equals zero. Pay-yourself-first budget. The pay-yourself-first budget is another simple budgeting method that focuses primarily on savings and debt repayment. Envelope system budget. 50/30/20 budget. The ‘no’ budget.