ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income, Expenses, Saving
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Only listing your expenses
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Only listing your debts
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Only listing your income
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Detailed explanation-1: -This process involves three main categories: fixed costs, variable expenses, and one-time expenses. Fixed costs are any expenses that remain constant over time and don’t dramatically vary from week to week or month to month.
Detailed explanation-2: -A budget plans for and tracks income and expenses over a specific time period. Businesses and governments rely on budgets to track revenues and expenditures, but you might be most familiar with a budget as a tool for managing your finances.
Detailed explanation-3: -The federal budget comprises three primary components: revenues, discretionary spending, and direct spending.
Detailed explanation-4: -And the internet is full of articles on the elements needed to create an effective budget: income, fixed expenses, variable expenses, and unplanned expenses. Those things are important, and plenty of financial experts can tell you how to incorporate them into a budget.