4. What are the pros and cons of using the different types of budget systems? Which one do you prefer?

Answers

Answer 1
Answer:

Answer:

Mental budget:

  • PRO ⇒ easiest possible way of making a budget,
  • CON ⇒ isn't very accurate.

Physical budget:

  • PRO ⇒ quite simply, just place money on envelopes according to what things you should pay with them,
  • CON ⇒ cannot keep a exact record.

Write down the budget:

  • PRO ⇒ write down the budget on a notebook or an excel spreadsheet,  writing down the budget helps to stick with it.
  • CON ⇒ you need to permanently check and adjust your budget.

Accounting or Financial software:

  • PRO ⇒ use software (e.g. Quicken) to help you  create a budget that includes tax records and bank accounts.
  • CON ⇒ it is more complicated and you need to pay for the software.

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Answers

Answer:

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Explanation:

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Answers

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Answers

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