BUISENESS MANAGEMENT
RECORD KEEPING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You should pay yourself first, if at all possible, to
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establish an emergency fund
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to help save money for future purchases
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to be prepared for possible financial emergencies
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all of the above
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Explanation:
Detailed explanation-1: -When you pay yourself first, you pay yourself (usually via automatic savings) before you do any other spending. In other words, you are prioritizing your long-term financial well-being.
Detailed explanation-2: -The advantage of paying yourself first out of your paycheck is that you build up wealth to secure your future and create a cushion for financial emergencies, such as car break down, financial crisis, or unexpected medical expenses. Without savings, many people experience a lot of stress.
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