Kyle set a goal to save up enough money to go to college. Which of the following is NOT an appropriate way to reward himself for
following his monthly budget? A.
He gets to go to out to eat and to a movie with his friends each weekend for the next month.
B.
His parents promised to let him and his friends have an X-Box tournament at his house and they would provide a pizza.
C.
He can use any excess money as extra spending money for anything he wants.
D.
His parents made a deal with him that they would match what he saves each month
C) He can use any excess money as extra spending money for anything he wants.
Explanation:
This option is absolutely what <em>should not happen</em>. If he had access to the money to spend as he wished, it would drastically affect his budget and his savings.
The option A is also something that is not recommended, however, if to eat out and go to the movies do not require a large amount of money that disrupts the budget, it can be acceptable.
Kyle gets to go out to eat and watch movies with his friends every weekendfor the next month is not the correct way to follow his monthly budget.
Option (a);
<u>EXPLANATION:</u>
Budgeting means planning how to spend one's money. The plan is called a budget. When a student gets to a college, he plans a budget so that he can keep an account of the money spent on textbooks, housing if needed and other expenses.
With the habit of budgeting, he can create secure finances even for his future. Kyle wanted to save money to go to college. If he spends all his money on watching movies and eating outside with his friends would results in unnecessary expenditures and due to this his savings would go in vain.
