Question

question 2 of 6
jasmine just received her paycheck. to manage her money, she categorizes spending by needs, wants, and savings and debt. what money management strategy is jasmine following?
select a response.
the envelope method
50-30-20 rule
managing money
pay yourself first

Explanation:

The 50 - 30 - 20 rule is a money management strategy where 50% of income goes to needs, 30% to wants, and 20% to savings and debt. Jasmine categorizes her spending into these three categories, so she is following the 50 - 30 - 20 rule. The envelope method uses physical envelopes for different spending categories, "managing money" is a general term, and "pay yourself first" focuses on saving first before other expenses.

Answer:

B. 50 - 30 - 20 rule (assuming the second option is labeled as B, if the options were labeled with letters. If not, the correct option is "50 - 30 - 20 rule")