ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Keeps you from spending more money that you bring in, Organized way to establish saving opportunities, allows you to see where money is spent and to identify unnecessary expenses
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creates more stress over your finances
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It allows you to borrow more money
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adversely affects credit score
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Detailed explanation-1: -Creating a budget helps you understand where your money is going each month and also allows you to develop a plan for saving. By having a household budget in place, you can easily track your spending, save, and more easily monitor and reach your financial goals.
Detailed explanation-2: -A budget is a guide that keeps you on the path to reach your financial goals. Budgeting keeps your finances under control, shows when you need to make adjustments to your spending, and helps you decide where your money goes instead of wondering where it all went.
Detailed explanation-3: -A budget helps you to be financially stable. It becomes easier to track expenses, pay bills on time, start saving for an emergency fund and save for milestone achievements, like buying a house or starting a business.
Detailed explanation-4: -Have set goals and objectives you wish to achieve. Ensuring you don’t spend money you don’t have. Ensure you are happy in retirement. It helps to be prepared for emergencies. Budgeting will help address bad spending habits.