ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your financial goals
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Future income
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Needs and wants
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Savings
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Detailed explanation-1: -things to consider when creating a budget. financial goals, current expenses, and income. mostly income. creative ways to spend your money.
Detailed explanation-2: -Extra Paychecks. Depending on your pay schedule, some months out of the year will give you an extra paycheck. Income Tax Refund. Bonuses. Side Hustle Income. Any Other Income that is Not Permanent.
Detailed explanation-3: -The family net income. Family needs. The nature of the capital expenditure planned for. The taste and value of the family. The number of dependant of the family or family size. The season of the year. Inflation.
Detailed explanation-4: -Make a list of your values. Write down what matters to you and then put your values in order. Set your goals. Determine your income. Determine your expenses. Create your budget. Pay yourself first! Be careful with credit cards. Check back periodically.