Budgeting

Question 1

What is budgeting?

Answer 1

Plan for smart spending and savings based on one’s income and expenses.

Question 2

What is Personal Budgeting?

Answer 2

daily, weekly, and even monthly.
Many people believe budgeting is too difficult, or it will limit their enjoyment of life.
Learning to budget can actually help find money for the things you really want or need
Setting up a personal financial plan requires establishing realistic and achievable short- and long-term goals.

Most people need to set aside specific minimum monthly amounts to achieve long-term financial goals.

Having a goal will help you stay focussed on keeping your budget and living within your means.

Question 3

What are variable expenses and fixed expenses?

Answer 3

VARIABLE EXPENSES
Changes all the time, not same all month, DEPENDS ON HOW MUCH YOU SPEND, UTILITY, CLOTHING

FIXED EXPENSES
SAME AMOUNT EACH MONTH
MEMBERSHIPS, MORTGAGE, RENT