Budgeting Quick Check

Question

4 of 54 of 5 Items
Question
Which of these describes an effective and efficient budgeting practice?(1 point)
Responses

Rework the budget every day to account for any changes that arise.
Rework the budget every day to account for any changes that arise.

Set the budget once, at the beginning of each year. Then check it again once, at the end of that same year.
Set the budget once, at the beginning of each year. Then check it again once, at the end of that same year.

Once or twice a month, stop to compare your actual spending to the amounts in your budget.
Once or twice a month, stop to compare your actual spending to the amounts in your budget.

Try to keep to the same budget from year to year.

Answer 1

The best option that describes an effective and efficient budgeting practice is:

Once or twice a month, stop to compare your actual spending to the amounts in your budget.

This approach allows for regular monitoring of your budget, making it easier to adjust and stay on track throughout the year.