Question

Create your own budget. Think about how much money you spend on the things you buy daily. Then using that information, create a plan on how you could lower your spending by cutting out certain items or buying an alternative product.

pls answer quickly

Answer 1

Answer:

Explanation:

Living in the US a daily budget would be something along the lines of

Groceries: $20

Gasoline: $7

Entertainment: $10

Housing expenses: $35

Health Insurance: $11

These would be a sample daily budget of all of the things that an individual would have to consider spending on a daily basis. Obviously, you can always cut down and tighten the budget in order to spend less and ultimately save more money. The main thing would be getting rid of non-necessities such as entertainment. Next, would be taking the bus or walking instead of using a car which would cut your cost by 80% or more. Lastly, would be buying off-brand grocery products that cost less. The only expenses that cannot be adjusted are housing and health insurance since they are necessities and have a fixed price.

Answer 2

budget planning requires all the income and expenses data in order to determine whether the budgets are in control or excessive expenditures are being made.

The income is gained by the salary of $80. However, the expenses are made on rent, which is $30, groceries are $20, and monthly personal health and safety expenses are $17. There are also entertainment expenses that extend to $10 monthly.

Thus, these expenses have reached up to the limits of salary that leaves less scope for saving. Thus, these expenses could be reduced with the help of limiting unnecessary expenditures. This is achieved by cutting entertainment expenses as well as buying groceries that are substitutes and are less expensive along with less consumption of junk items.

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