Question

question 4 of 6
what does \pay yourself first\ mean?
select a response.

• pay down debt before doing any spending
• put money in your savings account before you pay other expenses
• split your money according to how much you want to spend on each bill or expense
• spend your money on your wants before you spend on your needs

Explanation:

The concept "pay yourself first" in personal finance means prioritizing saving for your future (like putting money into savings) before using money for other expenses. The first option is about debt, the third about splitting for bills, the fourth about wants over needs (which is not recommended). The second option matches the idea of saving first.

Answer:

B. Put money in your savings account before you pay other expenses