Question

Spending plans are divided into three categories with roughly ______% of the after tax budget going to the category of needs and _____________ % of the after tax budget going to wants, with the rest going to esi.

Answer 1

Spending plans are divided into three categories with roughly 50% of the after tax budget going to the category of needs and 30 % of the after tax budget going to wants, with the rest going to ESI.

More about Spending plans:

A spending plan is a way to allocate your income to the assortment of needs and wants. You can effectively manage your finances and choose where to spend your money by making a spending plan in advance.

In the spending plan daily costs and short-term spending are your needs. Consider your rent or mortgage payment, groceries, gas, auto payments, and so on. You must budget for these expenses because, well, you can end up in some serious financial difficulty if you don't.

The items and experiences you want and wish to budget for are often your wants. Taking a trip with friends or family over the weekend, attending a concert, or going out to dinner are some examples.

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