Question

question 6 of 6
carlos wants to start a budget. he is planning on using the 50/30/20 method.
he’s categorizing his expenses. how should he categorize paying his
insurance?

select a response.

○ needs

○ wants

○ savings

○ debt

Explanation:

The 50/30/20 budget method splits expenses into Needs (50%), Wants (30%), and Savings/Debt (20%). Insurance is a necessary expense for financial security and risk management, so it falls under Needs.

Answer:

A. Needs