ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -"Pay off $5, 000 in credit card debt in two years” is a meaningful financial goal because it states the action in specific terms (pay off $5, 000 in credit card debt) and sets a target date or deadline (in two years).

Detailed explanation-2: -Which of the following careers would be a possible choice for someone interested in money and finance? Banker, Certified Financial Planner, Stock broker, accountant, etc.

Detailed explanation-3: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).

Detailed explanation-4: -Another name for a budget is a cash flow plan. A zero-based budget is only used for people who have zero debt. It usually takes three months for your budget to begin working well.