ECONOMICS (CBSE/UGC NET)

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ECONOMICS

MONEY MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Spending, saving, and investing your money so you can enjoy the kind of life you want, along with financial security is called ____
A
surplus
B
personal financial planning
C
opportunity cost
D
budget variance
Explanation: 

Detailed explanation-1: -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-2: -A financial security plan focuses on generating feelings of safety by paying bills on time, increasing savings, budgeting, investing, and purchasing insurance. On the other hand, financial freedom is about living life on your own terms.

Detailed explanation-3: -Money management is knowing how to save, spend and invest your money so that you and your family can successfully work toward your financial goals.

Detailed explanation-4: -Growth investments. Shares. Property. Defensive investments. Cash. Fixed interest.

There is 1 question to complete.
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