ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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can lead to unwanted debt.
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can break your budget.
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is always a bad idea.
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can make people jealous.
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Detailed explanation-1: -The word closest in meaning to what you want is spendthrift. Spendthrift is a noun that means “a person who spends money in a careless or wasteful way."
Detailed explanation-2: -You might think expenses are expenses. If the money’s going out, it’s an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far).
Detailed explanation-3: -Our spending habits, which directly impact our personal bottom line, are also affected by our emotions, values, and desires. This is known as the “psychology of spending.” Spending money, as opposed to saving, provides an instant feeling of gratification and control.
Detailed explanation-4: -Know what you’re spending money on. Make your budget work for you. Shop with a goal in mind. Stop spending money at restaurants. Resist sales. Swear off debt. Delay gratification. Challenge yourself to reach your new goals. 03-Feb-2023