Question

what should you do when you want to create a budget?\
\
\bigcirc make only the minimum required payment on your credit card balance\
\bigcirc estimate only your expenses and ignore income\
\bigcirc identify your income, list your expenses, and set financial goals\
\bigcirc rely on credit to cover expenses

Explanation:

To create a budget, one needs to consider both income and expenses and set financial goals. Making only minimum credit card payments (first option) is not part of budgeting but a debt - payment choice. Ignoring income (second option) is incorrect as budget needs income - expense balance. Relying on credit (fourth option) is not budgeting. The third option, identifying income, listing expenses, and setting financial goals, is the correct approach for budgeting.

Answer:

C. Identify your income, list your expenses, and set financial goals