QuestionMay 29, 2025

Question 1 of 8 What types of expenses should you make a savings plan for? Monthly car insurance bill A special trip with friends Monthly phone bill Weekly grocery costs

Question 1 of 8 What types of expenses should you make a savings plan for? Monthly car insurance bill A special trip with friends Monthly phone bill Weekly grocery costs
Question 1 of 8
What types of expenses should you make a savings plan for?
Monthly car insurance bill
A special trip with friends
Monthly phone bill
Weekly grocery costs

Solution
4.5(435 votes)

Answer

Monthly car insurance bill, A special trip with friends, Monthly phone bill, Weekly grocery costs Explanation 1. Identify Recurring and Non-Recurring Expenses Recognize that recurring expenses like monthly car insurance, phone bills, and weekly grocery costs are predictable and should be included in a savings plan. A special trip with friends is non-recurring but can also be planned for. 2. Determine Savings Plan Necessity All listed expenses should be considered in a savings plan to ensure financial stability and preparedness for both regular and occasional expenditures.

Explanation

1. Identify Recurring and Non-Recurring Expenses<br /> Recognize that recurring expenses like monthly car insurance, phone bills, and weekly grocery costs are predictable and should be included in a savings plan. A special trip with friends is non-recurring but can also be planned for.<br /><br />2. Determine Savings Plan Necessity<br /> All listed expenses should be considered in a savings plan to ensure financial stability and preparedness for both regular and occasional expenditures.
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