Question

What should be done to secure the future of a family ?

• A. Savings
• B. Expenditure
• C. Prepare budget
• D. None of these

Hint:

Think about the relationship between budgeting and saving. A budget is the plan, but saving is the action that builds wealth. The question asks "What should be done," making the action (Savings) the best answer.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
Securing the future of a family means ensuring financial stability to meet future goals (like education, retirement) and handle emergencies. The question asks for the primary action to achieve this.
Step 2: Detailed Explanation:
(A) Savings: Saving is the act of setting aside a portion of current income for future use. This is the direct way to accumulate wealth and build a financial safety net, thus securing the future.
(B) Expenditure: Expenditure is the act of spending money. Uncontrolled expenditure is detrimental to future security.
(C) Prepare budget: Preparing a budget is a crucial step in financial planning. It helps manage income and expenditure, which in turn facilitates savings. However, budgeting is a tool or a process, while saving is the actual outcome that secures the future. Between the two, savings is the more direct and fundamental action.
Step 3: Final Answer:
The most direct and essential action to secure a family's future is savings.