ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In your head
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Notebook and pencil
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Envelope method
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Online software or app
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Detailed explanation-1: -i would say using your fingers is not a good way to track your spending.
Detailed explanation-2: -What is NOT a good way to prevent unnecessary spending? Buy all of your wants at one time.
Detailed explanation-3: -The correct answer is option D. Preventing net operating losses is not a part of budgeting.
Detailed explanation-4: -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-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.