Budgeting is the process of developing a financial plan that identifies the revenues and resources required to carry out activities and achieve strategic goals. Therefore, <u>budget</u> is the correct answer.
<h3>What does a budget mean and why is it important? </h3>
A budget is a tool for keeping track of your income and expenses. A key component of your total success and security is budget creation.
It enables you to monitor and more clearly comprehend whether your company generates enough income (incoming money) to cover its costs. Having a budget promotes financial stability.
A budget makes it simpler to pay bills on time, accumulate an emergency fund, and save for significant costs like a car or home by keeping track of spending and sticking to a plan.
Overall, having a budget gives a person more financial stability for both the short and long term.
Therefore, budget is the correct answer which meets the strategic goals.
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Answer:
Risky behaviour is when you have much anger that you can harm someone.
It can be prevented by
Controlling your anger by making a punch of right hand
Ignoring the situation
Hope it helps you ❤️
The kind of variable in the responses “Democrat”, “Republican”, “Independent”, “Other”, and “No Response” is a categorical variable since the choices does not associate with any kind of unit.
Literally speaking, categorical variables are variables that fall into a specific category. Categorical variable is also known as qualitative variable.
Answer: By definition, generational wealth represents assets passed down from one generation to the next. If you can leave behind a notable inheritance to your descendants, that constitutes generational wealth. These assets can include real estate, stock market investments, a business, or anything else which contains monetary value.
People who inherit generational wealth have a significant financial advantage over those who do not. They likely have the ability to avoid student loans as well as other types of costly debt. Instead, their inheritance could go towards income-generating investments, assets which appreciate in value, or even towards purchasing their first home.
Explanation: To generate wealth you can pass on, you need to acquire assets or save money you won’t need to spend in retirement. You then pass down the money and assets to children or other younger relatives.
While the concept is simple, unless you had wealth passed down to you, accumulating extra assets can be slow. Fortunately, it’s entirely possible if you are strategic with your finances. These four strategies are the most accessible paths toward building generational wealth.
