ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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needs
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wants
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debt
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budget
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Detailed explanation-1: -We recommend the popular 50/30/20 budget to maximize your money. In it, you spend roughly 50% of your after-tax dollars on necessities, no more than 30% on wants, and at least 20% on savings and debt repayment.
Detailed explanation-2: -The researchers concluded that people are happier with experiential purchases over material ones irrespective of when you measure happiness: before, during or after consumption. Experiences also provoke more satisfaction even though people typically spend more time using their material possessions.
Detailed explanation-3: -The Trick to Tracking Your Spending. Get Control of Your Impulses. Only Put Money on Your Credit Card if You Can Afford to Pay it off Each Month. Stop Trying to Impress Other People. Figure out What Habits Drain Your Budget. Learn to Value Investing Over Products. Learn to Invest NOW. 21-Nov-2022
Detailed explanation-4: -Create a Budget. Visualize What You’re Saving For. Always Shop with a List. Nix the Brand Names. Master Meal Prep. Consider Cash for In-store Shopping. Remove Temptation. Hit “Pause" More items •19-Jan-2023