ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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set financial goals; maintain financial records; plan budget categories; evaluate your budget
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plan budget categories; set financial goals; maintain financial records; evaluate your budget
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set financial goals; plan budget categories; maintain financial records; evaluate your budget
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maintain financial records; plan budget categories; evaluate your budget; set financial goals
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Detailed explanation-1: -Budgeting for the national government involves four (4) distinct processes or phases : budget preparation, budget authorization, budget execution and accountability. While distinctly separate, these processes overlap in the implementation during a budget year.
Detailed explanation-2: -Common processes include communication within executive management, establishing objectives and targets, developing a detailed budget, compilation and revision of budget model, budget committee review, and approval.
Detailed explanation-3: -Calculate your net income. List monthly expenses. Label fixed and variable expenses. Determine average monthly costs for each expense. Make adjustments.
Detailed explanation-4: -Step 1: Set Realistic Goals. Goals for your money will help you make smart spending choices. Step 2: Identify your Income and Expenses. Step 3: Separate Needs and Wants. Step 4: Design Your Budget. Step 5: Put Your Plan Into Action. Step 6: Seasonal Expenses. Step 7: Look Ahead.