deda ke liye

What is budgeting?

• The process of investing money in stocks

• The process of creating a plan to spend your money.

• The process of randomly spending money without a plan

• The process of saving money without any plan

Why is budgeting important?

• To make it rain with money

• To have no control over spending

• To increase debt and financial stress

• To manage finances and avoid overspending.

What is the first step in creating a budget?

• Determine income and expenses

• Guess how much money is needed

• Ignore income and only focus on expenses

• Start spending without tracking

What is the difference between fixed and variable expenses?

• Fixed expenses are related to leisure activities, while variable expenses are related to necessities

• Variable expenses are only paid once a year, while fixed expenses are paid monthly

• Fixed expenses remain constant each month, while variable expenses can change from month to month.

• Fixed expenses are always higher than variable expenses

What is the 50/30/20 rule in budgeting?

• Ignoring debt repayment and savings

• Spending all income on wants

• Putting all income into savings

• Allocating income to needs, wants, and savings/debt repayment

What are some common budgeting mistakes to avoid?

• Saving too much money

• Spending more than you earn, not tracking expenses, not having an emergency fund, not setting realistic goals

• Setting unrealistic goals

• Not having a budget at all

How often should you review and adjust your budget?

• Monthly

• Weekly

• Never

• Yearly

What are the benefits of budgeting?

• Budgeting leads to overspending and financial instability

• Budgeting restricts financial freedom and limits opportunities

• Budgeting is time-consuming and unnecessary

• Budgeting helps in managing finances, setting financial goals, tracking expenses, and avoiding debt.