Richard has struggled financially in recent months. He decided to establish a household budget to help him resolve his problems. Why will Richard benefit from this decision?
A.
It will help Richard responsibly manage how he spends his monthly income and eliminate any unnecessary expenditures.
B.
It will help Richard increase his monthly income and reduce the amount of taxes he is required to pay to the government.
C.
It will help Richard decrease the amount of money he needs to save to meet his major financial goals each month.
D.
It will help Richard limit the risk of his financial investments and make sure that he is able to receive a high return.
A. It will help Richard responsibly manage how he spends his monthly income and eliminate any unnecessary expenditures.
Creating a household budget will help Richard track his expenses, identify areas where he can cut back, and prioritize important financial goals. This will ultimately help him better manage his finances and improve his overall financial situation.