In the process of creating his first personal budget, Jacob had to deal with the pile of paystubs, receipts, and bills that had accumulated on his desk. To create an accurate budget, roughly how many months of data will he need to include in his estimates?

Question

In the process of creating his first personal budget, Jacob had to deal with the pile of paystubs, receipts, and bills that had accumulated on his desk. To create an accurate budget, roughly how many months of data will he need to include in his estimates?

A. at least 2 years

B. at least 2 weeks

C. at least 2–3 months

D. at least 36 months

Answer 1

C. at least 2-3 months

Including at least 2-3 months of data will give Jacob a good idea of his average income, expenses, and spending habits, helping him create a more accurate budget.