Estimating expenses using actual expenses from previous years and tracking current expenses make the task of preparing a cash budget easier.​

​You have a balanced budget when your total income for the year equals or exceeds your total expenditure for the year.

Personal financial plans help individuals to have the same standard of living across the country.

​You have a balanced budget when your total income for the year equals or exceeds your total expenditure for the year.

​If you obtain a loan to purchase a car in June, this loan amount will be included as income for the month of June.

The need for financial planning declines as your income increases.

​If you obtain a loan to purchase a car in June, this loan amount will be included as income for the month of June.

Cash is the only kind of liquid asset.

Debit cards are a form of EFTS.

​Qualified dividends are taxed at the highest capital gain rates.