George wants to start saving more money. What is a good first step for him to follow? (1 point)

Question

Responses

Identify and cut all essential expenses.

Start putting 15% of his income into savings.

Reduce spending on all expenses.

Track his expenses for one month.

explain which is correct

Answer 1

Out of the options given, "Track his expenses for one month" would be the best first step for George to follow. By tracking his expenses, George can gain a better understanding of where his money is going and identify areas where he can cut back in order to save more. Once he has a clear picture of his spending habits, he can then make a plan to start putting a certain percentage of his income into savings.