Question

Jonathan Wynn has developed a budget that he follows each month. Jonathan has an envelope for each type of expenditure. After he cashes his paycheck, he puts the amount of cash in each envelope that he plans to spend on that category each month. What type of budget has Jonathan created

Answer 1

Physical budget.

Step-by-step explanation:

A budget can be defined as the total amount of money that is required for a particular purpose. A budget shows how an individual decides to spend his/her income.

A good budget must start with the individual source of income, that is the person source of money. It is very important for an individual to know how much comes in so as to effectively plan his expenses.

Jonathan Wynn has developed a physical budget by putting a specific amount of money in different envelopes which he plans to spend each month.