Question

level 3
which statements accurately describe the benefits of a budget in addressing financial wants?
(check all that apply)
budgets help you to include spending such as gym membership or internet service.
budgets help you reach your financial goal such as (vacations) by adding a pyf pay yourself first category to your budget.
budgets help you decide the importance of your required expenses.
budgets help to prioritize your daily spending when paying for things like rent, food and electricity.

Explanation:

• Gym membership and Internet service are often considered financial wants. A budget helps in planning for such non - essential (or want - based) spending.
• By adding a "Pay Yourself First (PYF)" category (which can be used for savings towards goals like vacations), a budget helps in reaching financial goals that are often wants (like taking a vacation).
• The statements about required expenses (rent, food, electricity) and deciding the importance of required expenses are more related to financial needs rather than wants.

Answer:

• Budgets help you to include spending such as Gym membership or Internet service.
• Budgets help you reach your financial goal such as (vacations) by adding a PYF pay yourself first category to your budget.