A total consumption budget means that all the money is spent on planned needs, and there is none left over as discretionary income.
With a total consumption budget, there is no net income or savings.
With a total consumption budget, there is no net income or savings.
With a total consumption budget, there is no net income or savings.
Total income spent on the consumption of goods and services.
A total consumption budget means that all the money is spent on planned needs, and there is none left over as discretionary income.
savings and miscellaneous
savings and miscellaneous
to ensure that you do not have a total consumption budget, which two categories should be added to your budget?
there is no discretionary income
it is designed to reach short-term goals
Review your budget and make adjustments so that you can add savings and miscellaneous categories to the budget.
To ensure that you do not exceed your total consumption budget, you should add categories for savings and discretionary spending. Including a savings category helps prioritize setting aside funds for future needs or emergencies, while a discretionary spending category allows for flexibility in spending on non-essential items. This approach helps maintain balance and control over your overall budget.