Which is the first step in setting a financial goal? (1 point) Responses setting aside leftover income setting aside leftover income reducing your spending reducing your spending tracking your spending tracking your spending starting a second source of income
The first step in setting a financial goal is tracking your spending.
The first step in setting a financial goal is tracking your spending. To do this, you will need to gather all your financial records, such as bank statements, credit card statements, and receipts for a certain period of time (e.g., a month). Then, categorize your expenses into different categories, such as groceries, utilities, transportation, entertainment, etc. This will help you understand where your money is going and identify areas where you can potentially reduce your spending or optimize your budget. By tracking your spending, you'll have a clearer picture of your current financial situation and be able to make informed decisions about your financial goals.
