ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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income
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expenses
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sales tax
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budget
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Detailed explanation-1: -A spending plan is a method for distributing your income among the mix of things you want and need. Creating a spending plan ahead of time will allow you to effectively manage your finances and determine where to best spend your money.
Detailed explanation-2: -Budget. A plan that outlines what money you expect to earn or receive (your income) and how you will save it or spend it (your expenses) for a given period of time; also called a spending plan.
Detailed explanation-3: -Step 1: Calculate your net income. The foundation of an effective budget is your net income. Step 2: Track your spending. Step 3: Set realistic goals. Step 4: Make a plan. Step 5: Adjust your spending to stay on budget. Step 6: Review your budget regularly.
Detailed explanation-4: -Find Your Total Net Income. Find Your Total Monthly Expenses. Decide on Monthly Savings. Figure Out What Is Left to Spend. Revise Until Everything Fits.