ECONOMICS
MONEY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -An allowance is the amount of money you plan to use for a certain budget category.
Detailed explanation-2: -Expenses mostly include operating expenses, like rent, utilities, advertising, and payroll. That’s what I’m talking about in this article. Direct costs are another type of spending-another way to say it is the costs of goods sold (COGS), or what you spend on what you sell.
Detailed explanation-3: -Knowing where you spend your money can help you cut unnecessary expenses and save for your future financial goals. Monthly expenses typically fall into one of two categories: fixed and variable.
Detailed explanation-4: -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.