Select the correct answer.
Which of the following is the first step to creating a budget?
A. calculating net income
B. planning for a savings amount
C. listing income sources and amounts
D. listing fixed expenses
Answer (1)
The first step to creating a budget is to list all income sources and amounts, which helps in determining how much money is available for expenses and savings. This foundational step is crucial for effective financial management. Once you know your total income, you can proceed to the next steps in budgeting. ;
