The correct option is (A).
The budget for your needs before wants is the most important consideration when planning your budget.
Further Explanation:
Budget planning:
The budget planning should be according to the needs of the person or individual. Before doing any expense, a person should plan his or her budget accordingly and make their needs the priority not the wants or desires.
Justification for the correct and incorrect option:
A.
Budget for your needs before wants: This option is correct.
The most important planning for the budget will be the planning for your needs first then plan the budget for the wants.
B.
Budget for unexpected events in before expected expenses: This option is incorrect.
The budget for unexpected events cannot be planned before, as these events are uncertain and unexpected.
C.
Budget for fixed expenses before flexible expenses: This option is incorrect.
A plan for a budget and especially for the fixed expense before flexible expenses, cannot be possible as unexpected expenses can arise anytime.
D.
Budget for expected events before unexpected events: This option is incorrect.
The budget for expected events before unexpected events will not be possible as the budget for expected events can be planned but cannot be planned for unexpected events.
Learn More:
1.The goal of budget
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2. Income and expenses (Budgeting)
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3. Change in value of the investment
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Answer Details:
Grade: High school
Chapter: Budget planning
Subject: Business studies
Keywords:
Which of the following is the most important consideration when planning your budget, budget for your needs before wants, budget for unexpected events in before expected expenses, budget for fixed expenses before flexible expenses, budget for expected events before unexpected events.