Question

After consulting the Web links above, or a book at the library or talking with your parents, why do you think it is important to plan expenditures carefully?

Answer 1

Saving is like adding up all your money to get something like a car. Saving also usually doesn't come with any risk at all. Saving also doesn't normally make much money either like a really low-interest rate. It can be accessed really easy to when you need it. Investing is taking your money and putting it into something that hopefully makes you more money. Investing has a bigger interest rate than saving. Investing though can also be extremely risky and you could lose a lot. It sometimes is also very hard to access to get your money. Altogether though in my opinion if you are young I would say invest your money cause you can always make it back. If you are older I say stick with saving so you have enough to retire on. Hope this helps :) -Zach

Explanation:

Answer 2

It is very important to plan expenditures carefully so that you will know your potential expenses and you can make any adjustments. This is also another way to monitor your expenditures so that you will know where and what you have spent the money with. Any errors or mistakes in the planning would be easily detected. Other than that, this would also allow you to concentrate in saving.