ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Take their yearly income and divide it by 12
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Only plan on 2 paychecks per month
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They figure out their net income
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They figure out their annual salary then divide it by 365, giving them their daily earnings
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Detailed explanation-1: -To create a biweekly budget, list all your expenses and add them to a bill calendar. Then add up variable spending and set savings goals. Create a budget for each pay period of the month, and then track your progress.
Detailed explanation-2: -A biweekly budget is a budget that takes into account a person collecting a paycheck every 14 days. Some pay schedules are monthly, weekly, biweekly, and even twice per month. The biweekly and twice per month pay schedules are slightly different as the total number of paychecks per year varies.
Detailed explanation-3: -Try a simple budgeting plan. We recommend the popular 50/30/20 budget to maximize your money. In it, you spend roughly 50% of your after-tax dollars on necessities, no more than 30% on wants, and at least 20% on savings and debt repayment. We like the simplicity of this plan.
Detailed explanation-4: -List all of your combined income sources and amounts. List out all of your joint household expenses. Estimate how much you will spend on each item. Track expenses. Create your budget with your spouse before you get paid. Budget as often as you get paid. More items •04-Nov-2022