What is the first step toward determining how much you can save?

(1 point)
• put 15% of your income into savings
• stop all spending for one month
• track your expenses for a set period of time
• use your debit card for all purchases

1 answer

The first step toward determining how much you can save is to track your expenses for a set period of time. This will give you an accurate understanding of your spending habits and help you identify areas where you can cut back and save.