Note your net income
The first step in creating a budget is to identify the amount of money you have coming in. Remember to subtract your deductions, such as for Social Security, taxes, 401 and flexible spending account allocations, when creating a budget worksheet. Your final take-home pay is called net income, and that is the number you should use when creating a budget.
Track your spending
It’s helpful to keep track of and categorize your spending so you know where you can make adjustments. Doing so will help you identify what you are spending the most money on and where it might be easiest to cut back. Begin by listing all your fixed expenses. These are regular monthly bills such as rent or mortgage, utilities or car payments.
It’s unlikely you’ll be able to cut back on these, but knowing how much of your monthly income they take up can be helpful.
Set your goals
Long-term goals, such as saving for retirement or your child’s education, may take years to reach. Remember, your goals don’t have to be set in stone, but identifying your priorities before you start planning a budget will help.
Make a plan
With your fixed expenses, you can predict fairly accurately how much you’ll have to budget for. Use your past spending habits as a guide when trying to predict your variable expenses. You might choose to break down your expenses even further, between things you need to have and things you want to have.
Adjust your habits if necessary
Once you’ve done all this, you have what you need to complete your budget. Having documented your income and spending, you can start to see where you have money left over or where you can cut back so that you have money to put toward your goals. Want-to-have expenses are the first area to look for spending cuts. Try adjusting the numbers you’ve tracked to see how much money that frees up.
Lastly, if the numbers still aren’t adding up, you can look at adjusting your fixed expenses. You might be surprised at how much extra money you accumulate by making one minor adjustment at a time.
Keep checking in
Whatever the reason, keep checking in with your budget following the steps above.
Answer:
i do not know
Explanation:
Explanation:
The two major types of nonproduction transactions that are not included in GDP are financial transactions, such as buying and selling stocks and bonds, and secondhand sales, such as buying a used car or furniture. These transactions do not involve the production of new goods or services and therefore do not contribute to the overall output of the economy.
Answer: Marginal revenue is -$500.
Explanation: The marginal revenue is calculated as the change in total revenue subtracted by the change in quantity.
Total revenue is calculated by multiplying the price by the quantity:
At a quantity of 20 driveways, the total revenue is = 20 × $10,000 = $200,000
At a quantity of 21 driveways, the total revenue is = 21 × $9,500 = $199,500
Marginal revenue = $199,500 - $200,000
= -$500
b. strategic alliance
c. just-in-time
d. rotational
Answer:
c. just-in-time
Explanation:
Just-in-time (JIT) is an inventory management strategy that eliminates to need to hold high volumes of stocks. In JIT, materials are purchased to coincide with the production process. Materials bought will not be kept in the stores but will go into the production process right away.
Should the Nissan team adopt the JIT strategy, it will not require to invest a lot of money in inventory purchases. It will only buy the parts needed for a specific production run. Nissan will free up cash that would be held in components kept in stores. The company will eliminate the possibility of the parts getting damaged while in the store. The management of the Nissan team will have to be extra careful not to run out of stock at production time.