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Class 11 Home Science Work, Livelihood and Career Life skills for livelihoodMediumLevel 39

If a person cuts even essential items to reduce expenses what is lacking in financial planning?

Answer and explanation

Correct answer: Balance of needs and wants

Financial planning needs balance between essential expenses and savings. In exams distinguish needs and wants.

Tags

financial-planningneedswants

Frequently asked questions

What is the correct answer to this question?

Balance of needs and wants

Why is this the correct answer?

Financial planning needs balance between essential expenses and savings. In exams distinguish needs and wants.

Which subject and chapter does this question cover?

This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Life skills for livelihood.

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