ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Decrease expenses
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Use a credit card more often
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Earn less income
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Increase purchases
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Detailed explanation-1: -If your deductions exceed income earned and you had tax withheld from your paycheck, you might be entitled to a refund. You may also be able to claim a net operating loss (NOLs). A Net Operating Loss is when your deductions for the year are greater than your income in that same year.
Detailed explanation-2: -A net loss is when total expenses (including taxes, fees, interest, and depreciation) exceed the income or revenue produced for a given period of time. A net loss may be contrasted with a net profit, also known as after-tax income or net income.
Detailed explanation-3: -Know where your money goes. Writing down what you spend for a week has been found to improve financial confidence. Create spending categories. Only spend on what matters most. Make the most of “monthlies” Eliminate impulse buys. Save on interest where you can. Consider deferment.
Detailed explanation-4: -Avoid Immediate Disasters. Review Credit Card Payments and Due Dates. Prioritizing Bills. Ignore the 10% Savings Rule, For Now. Review Your Past Month’s Spending. Negotiate Credit Card Interest Rates. Eliminate Unnecessary Expenses. Journal New Budget for One Month. More items