ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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occasionally makes impulse buys.
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purchases things online.
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does not keep track of her spending.
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has no emergency fund.
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Detailed explanation-1: -Tracking your spending on a regular basis can give you an accurate picture of where your money is going-and where you’d like it to go instead. Then, by using a budget, you can accurately account for all the bills you need to pay going forward.
Detailed explanation-2: -When you track your spending, you know where your money goes and you can ensure that your money is used wisely. Tracking your expenditures also allows you to understand why you’re in debt and how you got there. This will then help you design a befitting strategy of getting out of debt.
Detailed explanation-3: -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-4: -Heavily Using Credit Cards. Recklessly Spending Money (No Financial Discipline) Spending Money Out of Boredom. Not Planning and Budgeting. Emotional Spending. Money Is Easily Accessible. Falling Into Consumerism and the Need for ‘More’ Trying to Impress. More items •30-Aug-2022