ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an effective strategy for personal saving?
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Wait until the end of the month and save whatever is left in your checking account
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Save a certain percentage of each paycheck and deposit it directly in a savings account
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Cover all of your wants and needs and save whatever is left over
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Take out a payday loan so you can save before you receive your paycheck
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Explanation:
Detailed explanation-1: -Save Automatically Setting up an automatic savings plan, which saves a certain amount of money at regular intervals, is the most effective way to begin saving. Automatic savings apps can be great tools for reluctant savers.
Detailed explanation-2: -Stock ETFs and mutual funds. Low-cost index funds. Real estate (or REITs) Money market funds. Online savings accounts. Treasury bills. Certificates of Deposit. 06-Jan-2023
There is 1 question to complete.