What should you analyze as the first step to developing a budget?
A) current interest rates
B) revenues and expenses
C) how you stand compared to others your age
D) credit card receipts

Question

Quizplus · Accepted Answer

The first step to developing a budget is to analyze your revenues and expenses. This will give you an idea of how much money you are bringing in versus how much you are spending. Once you have this information, you can then make decisions about where you can cut back on expenses or increase your income. Analyzing other factors like interest rates, credit card receipts, and comparing yourself to others your age can be helpful, but they should come after you have a clear understanding of your current financial situation through analyzing your revenues and expenses.

What Should You Analyze as the First Step to Developing