After you have set your budget-related goals,the next logical step is to :
A.figure out your expenses
B.make a budget worksheet
C.figure out your expected disposable income
D.try out your budget for a couple months
i got C what do you think?
I agree.
thank you
It wasn't right :(
Jamal currently earns $20,000 a year in gross wages. On January 1, he is due to receive a 2% COLA. What will his gross income be after the COLA takes effect
The next logical step after setting your budget-related goals is to figure out your expenses. This will help you gain a clear understanding of where your money is going and how much you are spending on various categories such as housing, transportation, food, and entertainment.
To figure out your expenses, you can follow these steps:
1. Collect your financial documents: Gather your bank statements, credit card statements, bills, and any other financial records that can help you track your expenses.
2. Categorize your expenses: Create categories for your expenses, such as housing, transportation, groceries, utilities, entertainment, health, and so on. Categorizing your expenses will make it easier to analyze your spending patterns and identify areas where you can potentially cut back.
3. Track your expenses: Start recording your expenses for a certain period of time. You can use a notebook, spreadsheet, or budgeting apps to jot down your expenses as you incur them. Be diligent about recording every transaction, no matter how small.
4. Analyze your spending: After tracking your expenses for a month or two, review your records and categorize your expenses accordingly. This will allow you to see how much you are spending in each category and whether it aligns with your budget-related goals.
By figuring out your expenses, you will have a clear understanding of your spending patterns and be better equipped to create an effective budget worksheet that aligns with your financial goals. Option A, "figure out your expenses," is the correct answer.