Question
Jasmine just received her paycheck. To manage her money, she categorizes spending by needs, wants, and savings and debt . What money management strategy is Jasmine following? the envelope method 50-30-20 rule managing money pay yourself first
Solution
4.6
(327 Votos)
Kaique
Mestre · Tutor por 5 anos
Resposta
B. The 50-30-20 rule
Explicação
## Step 1The problem presents a scenario where Jasmine categorizes her spending into needs, wants, and savings and debt. We are asked to identify the money management strategy she is following.## Step 2The options provided are:- The envelope method- The 50-30-20 rule- Managing money- Pay yourself first## Step 3The envelope method involves dividing cash into envelopes for different spending categories. This doesn't match Jasmine's approach as she doesn't mention dividing her money into envelopes.## Step 4The 50-30-20 rule suggests allocating 50% of income to needs, 30% to wants, and 20% to savings and debt. This doesn't match Jasmine's approach as she doesn't mention allocating her income in this way.## Step 5"Managing money" is a broad term that doesn't specify a particular strategy. Jasmine's approach is more specific, so this option doesn't fit.## Step 6"Pay yourself first" is a strategy where you save or invest a portion of your income before spending on anything else. This doesn't match Jasmine's approach as she doesn't mention saving or investing before spending.## Step 7Based on the information provided, Jasmine's approach aligns with the 50-30-20 rule, where she allocates her income into needs, wants, and savings and debt.