ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lease a new car
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Spend less money than he or she makes
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Replace things that are not broken
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Carry debt
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Detailed explanation-1: -Many millionaires, for example, allocate their time differently-they spend more time focusing on personal growth, planning for investments, and working, and less time sleeping. They also gravitate toward similar wealth-building strategies, like saving as much as they can and bringing in multiple income streams.
Detailed explanation-2: -If your costs exceed income, you have a deficit. If spending and income are equal, that’s a balanced budget.
Detailed explanation-3: -Zero-based budgeting is when your income minus your expenses equals zero. Perfect name, right? So, if you make $3, 000 a month, everything you give, save or spend should add up to $3, 000. Every dollar that comes in has a purpose, a job, a goal.
Detailed explanation-4: -Cost of Goods Sold. Operating Expenses. Financial Expenses. Extraordinary Expenses. Non-Operating Expenses.