ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Saving
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Investing
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Either A or B
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None of the above
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Detailed explanation-1: -At least 20% of your income should go towards savings. Meanwhile, another 50% (maximum) should go toward necessities, while 30% goes toward discretionary items. This is called the 50/30/20 rule of thumb, and it provides a quick and easy way for you to budget your money.
Detailed explanation-2: -A popular savings rule of thumb in which 50% of your income goes towards necessities (groceries, rent, utilities), 20% goes towards savings, debt, and investments, and 30% goes towards flexible spending.
Detailed explanation-3: -What Is Principal? Principal is most commonly used to refer to the original sum of money borrowed in a loan or put into an investment.
Detailed explanation-4: -Eliminate Your Debt. Set Savings Goals. Pay Yourself First. Stop Smoking. Take a “Staycation” Spend to Save. Utility Savings. Pack Your Lunch. More items