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State two advantages of budgeting - Junior Cycle Home Economics - Question 11 - 2016
Question 11
State two advantages of budgeting. (i) (ii)
Worked Solution & Example Answer:State two advantages of budgeting - Junior Cycle Home Economics - Question 11 - 2016
Step 1
(i) State an advantage of budgeting.
Answer
One advantage of budgeting is that it helps to keep spending under control. By establishing clear financial limits, individuals can allocate their money wisely, ensuring that they have sufficient funds available for essential bills and expenditures.
Step 2
(ii) State another advantage of budgeting.
Answer
Another advantage of budgeting is that it reduces financial worries. Budgeting allows individuals to track their spending habits, making it easier to identify areas of overspending. This proactive approach can help alleviate stress associated with financial uncertainty.