What is a budget? What are the main purposes of a budget?
Answer: A budget allows you to meet your personal goals with a system of saving and wise spending. The main purposes of a budget is to live within your income. It will help you make wise buying decisions. It will prevent credit problems. It will also allow you to develop money management skills.
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Business and Finance
- Explain what is a credit? When should we use a credit? What are things you should look for when you are getting a credit card? What actions can a person take when facing credit problems?
- Under what circumstances might someone use a trust?
- Define money management.
- What is the difference between a national brand and a store brand? What are the advantages of each?
- List and explain the 3 Cs of credit
- What responsibilities do consumers have in business relationships? What is the most important responsibility consumers have?
- What is the difference between a national brand and a store brand? And what are the advantages of each one?
- Describe the kinds of consumer information you might find on a product label.