ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Loan
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Credit
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Debt
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Income
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Detailed explanation-1: -The first step is to find out how much money you make each month. You’ll want to calculate your net income, which is the amount of money you earn less taxes. If you receive a regular paycheck through your employer, regardless if you’re part-time or full-time, the amount listed is likely your net income.
Detailed explanation-2: -What Should Be Included in a Budget? A budget should include your income, savings, debt repayment, and general expenses.
Detailed explanation-3: -Step 1: Calculate your net income. The foundation of an effective budget is your net income. Step 2: Track your spending. Step 3: Set realistic goals. Step 4: Make a plan. Step 5: Adjust your spending to stay on budget. Step 6: Review your budget regularly.