ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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savings
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budget
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credit
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you would need to use all 3 of these
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Detailed explanation-1: -Financial planning is a step-by-step approach to meet one’s life goals. A financial plan acts as a guide as you go through life’s journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals.
Detailed explanation-2: -Budgeting. A budget is, simply put, a plan for your money. By tracking income and expenses you can create a plan for your spending and saving.
Detailed explanation-3: -Define your short-and long-term goals. Audit your current income, savings, and long-term savings and investing plan. Address shortfalls/adjust goals. Account for multiple future scenarios. Develop a comprehensive financial plan. Implement and monitor that plan. More items •21-Dec-2021
Detailed explanation-4: -• Set a budget. Setting your budget requires knowing what goals to prioritize. Invest at an early age. Assessing your risk appetite. Monitor discretionary expenses. Regularly review your portfolio. Plan your taxes in a smart way. Prioritize insurance. Put your debt obligations first. More items •03-Jan-2023