Question

Budgeting and you MI-Economics assignment question. Now, summarize what you have learned. Write a paragraph that explains the most important principles to keep in mind when creating a budget. Describe at least three important principles in your answer.

Answer 1

Sample Response: It all starts by setting clear goals. You need to know what you want to accomplish in the short term and the long term. Then, you can examine your goals to find your needs and wants. You can accomplish these needs and wants by categorizing your expenses into fixed and variable categories. By keeping all of these principles in mind, you will be able to balance your budget. This will allow you to save money while also spending enough to meet your goals.

Explanation:

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Answer 2

It all starts by setting clear goals. You need to know what you want to accomplish in the short term and the long term. Then, you can examine your goals to find your needs and wants. You can accomplish these needs and wants by categorizing your expenses into fixed and variable categories. By keeping all of these principles in mind, you will be able to balance your budget. This will allow you to save money while also spending enough to meet your goals.

Explanation: