When putting together your personal budget, you find that your budget has a deficit. Which is the BEST way to balance your budget?

Question 3 options:

Increase your expenses by more than your deficit

Cut your income and expenses by the same amount

Cut your expenses by an amount greater than your deficit

Increase your income and expenses by the same amount

Question

Chace Mckay

Business

12 July, 23:23

When putting together your personal budget, you find that your budget has a deficit. Which is the BEST way to balance your budget?

Question 3 options:

Increase your expenses by more than your deficit

Cut your income and expenses by the same amount

Cut your expenses by an amount greater than your deficit

Increase your income and expenses by the same amount

+5

Answers (1)

Know the Answer?

Omari Copeland · Answer 1

The correct answer is letter "C": Cut your expenses by an amount greater than your deficit.

Explanation:

In case there is a deficit in your budget, it means your expenses are higher than your net income. An adjustment must be made in such circumstances. To bring back the balance in your budget, you should cut your expenses by an amount higher than the amount of the deficit. Otherwise, you could increase your income but keeping your expenses at the same level.