ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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track income and expenses
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help individuals live within their means
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help individuals meet financial goals
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encourage individuals to spend more money
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Detailed explanation-1: -A spending plan is a method for distributing your income among the mix of things you want and need. Creating a spending plan ahead of time will allow you to effectively manage your finances and determine where to best spend your money.
Detailed explanation-2: -You might think expenses are expenses. If the money’s going out, it’s an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far).
Detailed explanation-3: -That spending can be divided into three categories: mandatory, discretionary, and interest.
Detailed explanation-4: -Watch our video about Budgeting. Budgeting helps you achieve academic and financial goals. Budgeting makes it easier to plan, to save, and to control your expenses. Budgeting can help you avoid debt and improve your credit.