The name for writing down where your income will go each month is a budget.
The correct answer is "budget." A budget refers to a written plan that outlines where your income will be allocated each month. It helps you track and manage your finances by categorizing your expenses, including necessities like rent or mortgage payments, utility bills, groceries, transportation costs, and discretionary spending. Creating a budget allows you to prioritize your spending, save for future goals, and ensure you are living within your means. To make a budget, start by listing your income sources and then categorize your expenses based on their importance and frequency.
