Personal financial planners often encourage their clients to write down every single penny they spend each day. The main purpose of this is to
A) focus attention on the spending levels for each item.
B) eliminate the need for accountants.
C) do a better job of tax planning.
D) accumulate data needed to prepare a personal balance sheet.

Question

Quizplus · Accepted Answer

The main purpose of writing down every single penny spent each day is to focus attention on spending levels for each item. It helps individuals become more aware of their spending habits and identify areas where they can cut back or adjust their budget.

Personal Financial Planners Often Encourage Their Clients to Write Down