you got $200 from your grandma for your birthday. what should you do first?\na record it as income in your…
you got $200 from your grandma for your birthday. what should you do first?\na record it as income in your budget.\nb stick it under your bed for safekeeping.\nc deposit it all straight into your savings account.\nd spend it.
Answer
Brief Explanations:
Proper financial management starts with tracking income. Recording the $200 as income in your budget helps you keep an accurate financial picture, which is a fundamental first - step before making decisions about saving, spending, or storing the money. Sticking it under the bed is not a secure or productive financial move, depositing it into savings might be a later step, and spending it without accounting for it first can lead to financial disorganization.
Answer:
A. Record it as income in your budget.