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Which is the last step in making a personal budget?

A. Add up all sources of income. B. Reduce expenses in flexible ca...

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Which is the last step in making a personal budget?

A. Add up all sources of income.
B. Reduce expenses in flexible catorgories.
C. Check interest rates on loans.
D. Catorgorize different expenses.

Answer

The last step in making a personal budget is to reduce expenses in flexible categories.
The correct option among all the options given in the question is option "B".
Under normal circumstances, a person cannot make the adding up all sources of income as the last step.
Then the expenses will not get added.
The flexible expenses are expenses that can always be reduce or are not important expenses.
The basis of making the budget is to reduce those unnecessary expenses.
So the last step should always be to find ways to reduce the flexible or unwanted expenses.

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 33 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 124 views.

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