The first step in developing a budget is to analyze:
A) your current interest rates.
B) your revenues and expenses.
C) how you stand financially compared to others your age.
D) your credit card receipts.

Question

Quizplus · Accepted Answer

Developing a budget requires analyzing your revenues and expenses. This involves looking at your income and expenditures, and determining where you may be overspending or where you have room to save. Analyzing your current interest rates or credit card receipts may be important factors in creating a budget, but they are not the first step in the process. Additionally, comparing your financial situation to others your age is not a reliable way to create a budget as everyone's financial situation is unique.

The First Step in Developing a Budget Is to Analyze