ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Saving
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budgeting
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revenue
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spending
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Detailed explanation-1: -Specific Steps for Saving. Make a Budget. Understand Cash Flow. Work With Your Partner. Distinguish “Want” from “Need" Make It Automatic. Do a Review. Look for Places to Cut. More items
Detailed explanation-2: -Saving-The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals, and funds for investing.
Detailed explanation-3: -Saving provides a financial “backstop” for life’s uncertainties and increases feelings of security and peace of mind. Once an adequate emergency fund is established, savings can also provide the “seed money” for higher-yielding investments such as stocks, bonds, and mutual funds.
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