ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -A budget is a spending plan, a tool to put you in control of your money. It shows how much money you have, where it needs to go to meet your needs and wants and when you will be able to reach your financial goals.
Detailed explanation-2: -Saving and investing are both important to consider in your future planning. Through saving money, your money is kept safe, and easy to access should you need it. By investing early over time, your money grows in value, benefiting from the magic of compounding.
Detailed explanation-3: -A spending plan (also called a budget) is simply a plan you create to help you meet expenses and spend money the way you want to spend it.
Detailed explanation-4: -An emergency fund is a must. Establish your budget. Budget with cash and envelopes. Don’t just save money, save for your future. Save automatically. ’Start Small. Start saving for your retirement as early as possible. Take full advantage of employer matches to your retirement plan. More items