ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Show if you are overspending in an area
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Make overspending more likely
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Remove guilt and shame sometimes associated with purchase
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Make your money go further
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Detailed explanation-1: -an amount of extra money that is spent on something above the amount that should have been spent: We’re expecting to have a $5 million (budget) overspend this year.
Detailed explanation-2: -When you analyze it, there are really three reasons why people are unsuccessful in budgeting. The most common causes of failure are unrealistic goals, quitting too soon and misunderstanding what a budget really is.
Detailed explanation-3: -Having a budget keeps your spending in check and makes sure that your savings are on track for the future. Budgeting can help you set long-term financial goals, keep you from overspending, help shut down risky spending habits, and more.
Detailed explanation-4: -Track expenses regularly. Pay with cash if tempted to overspend with your debit or credit card. Complete weekly budget check-ins to ensure you’re on track for your budget goals. Review your budget once a month to see if your income or expenses have changed. More items •19-Oct-2022