Webanswer choices. a) An emergency fund prepares you for unexpected expenses. b) An emergency fund keeps you from borrowing money from friends and family. c) An emergency fund removes the worry about expenses not in the budget. d) All of the above are good reasons to have an emergency fund. Question 14. WebA budget helps you decide: what you must spend your money on. if you can spend less money on some things and more money on other things. For example, your budget …

The 50/30/20 Rule of Thumb for Budgeting - The …

WebAddressing your financial situation and distinguishing between needs and wants is an important first step before creating your annual budget. Acknowledging areas where you … WebMay 27, 2024 · What is a Budget? Budgeting Terms and Tips: A budget is an estimation of revenue and expenses over a specified future period of time; it is compiled and re-evaluated on a periodic basis. Budgets ... for the training

Money Smarts - Budgeting Basics questions & answers for

WebHere is the Stepwise process of budget preparation: Step #1: Objective. The budget preparation starts with defining the objectives the organization wishes to achieve. It can be cost savings, exploiting new market … WebJun 15, 2024 · Key Takeaways. The 50/30/20 rule of thumb is a guideline for allocating your budget accordingly: 50% to “needs,” 30% to “wants,” and 20% to your financial goals. The rule was popularized in a book by … WebBudgeting. Although four out of five Americans use a budget to plan their spending, 20 percent of them keep only a mental budget. Putting your budget on paper or in a basic … for the transistor to act as an amplifier