Question

question 6 of 6
carlos wants to start a budget. he is planning on using the
50/30/20 method. hes categorizing his expenses. how should
he categorize paying his insurance?

select a response.
○ needs
○ wants
○ savings
○ debt

Explanation:

In the 50/30/20 budget method, "Needs" are essential expenses for survival and security, like housing, utilities, and insurance (which is a necessary expense for financial protection). "Wants" are non - essential, "Savings" is for future goals, and "Debt" is for repaying owed money. Insurance is a necessary expense, so it falls under Needs.

Answer:

A. Needs