Planning Expenditure Flashcards
1
Q
Why is Planning Expenditure important?
A
Planning Expenditure is important in order to avoid getting into financial difficulty.
2
Q
Why plan expenditure?
A
Control Costs
Remain Solvent
Avoid Bankruptcy
Generate Savings
Avoid getting into Debt
3
Q
What are the benefits of planning expenditure?
A
Planning will ensure individuals that they have enough money to meet future financial needs.
4
Q
what are the risks of not planning expenditure?
A
Failure to control expenditure makes an individual at risk of:
- Debt
- Having insufficient funds
- Legal action
- Repossession of personal items.
- Poor credit
