Question

Which of the following is the MOST important consideration when planning your budget?

Answer 1

Answer

Budget for your needs before your wants.

Explanation

A budget is is a financial plan which is defined for a period of time and it entails a certain amount of money depending on the owners income and expenses. One needs to create a plan on how to spend money and this allows you to know in advance whether you have enough money to do things you would like to do. By this you should budget for your needs that the things which are basic like food, water,clothing and shelter and others like education according to your finances before your wants because your wants you can live with out and they are mostly luxuries.

Answer 2

Budget for fixed expenses before flexible expenses.