Question

Jestion 3/10

Which of the following is a benefit of using a budget?
Helps to keep track of the money you receive
Helps to prioritize your spending
Helps reach short- and long-term financial goals
All of the above

Answer 1

Using a budget helps to keep track of money, prioritize spending, and reach financial goals.

Step-by-step explanation:

A budget is a financial plan outlining expected revenues and expenditures over a specific period. It serves as a tool for managing resources, allocating funds to different activities or departments. Budgets can be created for individuals, businesses, or governments, promoting financial discipline and helping achieve financial goals.

All of the above is the correct answer. Using a budget has several benefits. It helps to keep track of the money you receive by monitoring your income and expenses. It also helps to prioritize your spending by allocating funds to different categories and ensuring that essential expenses are covered. Additionally, a budget helps to reach short- and long-term financial goals by setting aside money for savings and investments.