Respuesta :
When creating a budget you want to remember your income level and what you can afford. If you only make 200$ every week you don't want out budget to be 200$ cause you won't have anything for savings. You also want to keep in mind your wants verses needs. the last thing you want to keep in mind is whatever your buying is it worth spending money on i.e. good quality, last you while, etc.
A budget is a financial idea for a defined period, frequently one year.
The most important principle which should be kept in mind to remember the level of the budget.
What is budget?
A budget is an approximation of revenues and expenses over a limited upcoming period of time and is applied by governments, businesses, and individuals.
A budget is essentially a financial plan for a settled period, commonly one year, that is known to greatly raise the success of any financial projecting.
At the time of making a budget, an individual want to think his/her income state and what you can spend. If an individual only make $1000 every week, he/she do not desire our budget to be $1000 because he/she won't have anything for savings.
Three principles of setting the budget are:
1. Amount of budget must spend on good quality products or services.
2. It must not be more than or equals to the amount of the total income.
3. There must be a time period of using the budget.
Therefore, It is important to keeps in mind that budget doesn't exceed the amount of the total income.
Learn more about Budget, refer:
https://brainly.com/question/15712390
