ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They encourage people to spend as much money as possible
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Setting up a budget will allow you to earn more money
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The idea behind keeping a budget is to spend exactly as much as you earn
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They allow people to track how and where their money is spent
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Detailed explanation-1: -A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.
Detailed explanation-2: -Budgeting ensures you’re not spending more than you’re making, allowing you to plan for short-and long-term expenses. It’s an easy, helpful way for people with all types of income and expenses to keep their finances in order.
Detailed explanation-3: -The Budget Must Address the Enterprise’s Goals. The Budget Must be a Motivating Tool. The Budget Must Have the Support of Management. The Budget Must Convey a Sense of Ownership. The Budget Should be Flexible. More items
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.