Question:
Your monthly budget is Rs. 5000/- and you are spending on non-essential things. How would you manage expenses?
Your monthly budget is Rs. 5000/- and you are spending on non-essential things. How would you manage expenses?
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Follow the 50-30-20 rule: 50% for needs, 30% for wants, and 20% for savings.
Updated On: Apr 21, 2026
- Spend freely and worry later
- Ignore the budget and buy whatever you need
- Save all your money and spend all the money next month
- Allocate your expenses and save money for future
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The Correct Option is D
Solution and Explanation
Step 1: Understanding the Concept:
Financial discipline requires budgeting and prioritizing essential spending.
Step 2: Detailed Explanation:
Allocating expenses ensures essential needs are met first. Free spending leads to financial stress. Ignoring budgets creates debt. Saving everything for next month defers responsible management. Planned allocation balances current needs with future security.
Step 3: Final Answer:
Allocate expenses properly and save money for future needs.
Financial discipline requires budgeting and prioritizing essential spending.
Step 2: Detailed Explanation:
Allocating expenses ensures essential needs are met first. Free spending leads to financial stress. Ignoring budgets creates debt. Saving everything for next month defers responsible management. Planned allocation balances current needs with future security.
Step 3: Final Answer:
Allocate expenses properly and save money for future needs.
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