Question

question 4 of 6
what does \pay yourself first\ mean?
select a response.

pay down debt before doing any spending

put money in your savings account before you pay other expenses

split your money according to how much you want to spend on each bill or expense

spend your money on your wants before you spend on your needs

Explanation:

The concept of "pay yourself first" in personal finance emphasizes prioritizing saving (putting money into savings) before allocating funds for other expenses. The first option is about debt repayment, the third is about budgeting allocation, and the fourth goes against financial prudence (needs before wants). So the correct interpretation is putting savings first.

Answer:

B. Put money in your savings account before you pay other expenses