The procedure for creating a sound budget involves: (1) determining the difference between needs and wants, (2) prioritizing needs (food, housing, clothing, transportation) first, and (3) spending money on wants only after needs have been met.

Authors

• Person: Not available Organization: Bethune-Cookman University
  Personal Finance and Debt Management

Sources

• Personal Finance and Debt Management www.cookman.edu Bethune-Cookman University via serper

Referenced by nodes (3)

• transportation concept
• clothing concept
• housing concept