Question

what is the first step in creating a budget? *
choose a budgeting method
figure out your take-home pay
track your expenses for a month
review your budget regularly

why is it important to have an emergency fun as part of your budget? *
to avoid relying on credit cards for unexpected expenses
to impress your friends and family
because banks require it for loan applications
to earn more interest on your money

Explanation:

For the first question: A budget is built around the actual income you have available to use, so identifying take-home pay is the foundational first step before other budgeting actions.
For the second question: An emergency fund is designed to cover unplanned costs, which prevents the need to use high-interest credit cards for these expenses.

Answer:

1. Figure out your take-home pay
2. To avoid relying on credit cards for unexpected expenses