What is the first step in creating a budget?*1 pointSetting financial goalsTracking all income and expensesCutting unnecessary expensesOpening a savings account

What is a budget?*1 pointA plan for how to spend and save moneyA record of past expensesA type of bank accountA financial loan

Fill in the Blank QuestionFill in the blank question.The first step in preparing the master budget is planning the budget.

What is the primary purpose of creating a budget?a) To track spending habits only b) To determine your net worth c) To plan and control your income and expenses d) To invest in the stock market

things in particular which are very important when making a budget. First we need to work out how much             we earn or have available for an            .Next we need to think about how             we want our budget to cover.Finally, we need to know what             we want to buy, how much they             and

After reviewing the two resource materials, place the budget-starting steps below into the best order:Categorize expenses and predict next month's expenses.Write down how much you spent in a month.Determine how much you bring home monthly (after taxes).Find ways to reduce spending in high dollar categories.