Final answer:
To find out how much money you can save each month, use a budget. This financial plan helps you track income and expenses, find areas to cut back, and increase savings. Proper budgeting is essential for effective money management and saving for the future. Option a
Step-by-step explanation:
To determine how much money you have left over to save each month, you would use a budget. A budget is essentially a financial plan that outlines your income and expenses, which helps you manage your money and plan for the future. By tallying your spending daily and weekly, you can compare it to your income to understand your financial situation better.
Creating a budget requires you to list all your monthly incomes and expenses. This might include rent or mortgage, utilities, groceries, transportation, and any other recurring expenses. Subtracting your total expenses from your income reveals how much money you have left to save. If your expenses are higher than your income, you'll need to make adjustments to avoid debt.
Tracking your spending and using a budget can help you make informed decisions about where you can cut back and increase your savings. Questions like whether you can save more money for your future or manage your finances more effectively can be answered with the help of a detailed and well-maintained budget. Option a