ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Keep your allowance and birthday gift money in a piggy bank.
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Prepare a plan with your parents to save your money for something special you want to buy, that you can’t afford right now.
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Show self control when you want to spend your money on unnecessary things like candy or a soda.
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Set aside a certain amount of each gift or payment you receive as a savings that you don’t spend.
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Detailed explanation-1: -A certificate of deposit, or CD, is another type of savings account. CDs typically pay a higher yield than traditional savings accounts because you agree to let the bank keep your money locked up for a specific term that could range from three months to five years or longer.
Detailed explanation-2: -Eliminate Your Debt. Set Savings Goals. Pay Yourself First. Stop Smoking. Take a “Staycation” Spend to Save. Utility Savings. Pack Your Lunch. More items
Detailed explanation-3: -Record your expenses. The first step to start saving money is figuring out how much you spend. Include saving in your budget. Find ways to cut spending. Determine your financial priorities. Pick the right tools. Make saving automatic. Watch your savings grow.
Detailed explanation-4: -Track your spending. One of the greatest contributors to overspending is a credit card. Establish a budget. Set up savings goals. Use an automated tool. Prepare for grocery shopping in advance. Bring your lunch to work. Stop paying for cable television. Create an emergency fund. More items