Question

what does \pay yourself first\ mean?
○ an individual should save whatever money is left over after paying monthly bills
○ an individual should pay all fixed expenses before paying flexible expenses
○ an individual should set aside a predetermined amount of money for savings before using any of that money for spending
○ an individual should spend money on the items and activities enjoyed in life before paying any other expenses

Explanation:

"Pay yourself first" is a financial concept. It emphasizes the importance of prioritizing savings. Instead of saving what's left after spending (which might be little or nothing), or dealing with expense types (fixed vs flexible) in a certain order, or spending first, the key is to set aside savings upfront. This helps in building financial stability as it makes savings a non - negotiable part of income management.

Answer:

An individual should set aside a predetermined amount of money for savings before using any of that money for spending.