3
QuizMultiple Choice

Budgeting

Question 3 • Personal Finance - EL3403

To create a balanced budget, one must make sure to

Answer
s
spend as little as possible.
p
pay credit card payments first.
s
spend less than or equal to income.
p
pay off debts first.

Explanation

A balanced budget means your total spending does not exceed your income. If you spend less than you earn, you can save some money; if you spend exactly what you earn, the budget is still balanced. So the correct choice is “spend less than or equal to income.”

AI-written and checked against the verified answer.

Previous
Next