these are 2 student statement just give opinion/facts on what they’re speaking on or even a agree or disagree and provide information to support what your saying.
1)After completing my Proficiency diagnostics from chapters three and four, I scored the lowest in tax planning. I thought I was pretty good with taxes but realized after reading that I am not as good as I thought. It is important to understand that proper tax planning makes it easier to build your personal finances and afford the things that you want. Additionally, by anticipating taxes when you create your financial plan, it’s possible to significantly boost how much money you will have in retirement.
My experience with creating and using a personal budget is great. There are many benefits of creating a personal budget. Budgeting gives you control. When you create a personal budget, you’re taking control of your money and not letting your money control you. Budgeting keeps you organized, builds better habits, manages debt, and gives you a better life. It also helps create a cushion for unexpected expenses. Using a personal budget can help you identify problems before they occur, such as shortfalls for expenses. It works for me because I update it every month, any new bills or sources of income are updated for it to work and be effective.
I always review my tax withholdings regularly. Any money that is withheld from your paycheck represents money that you could invest during the year to earn interest before paying your annual tax bill.
2)I scored the lowest in chapter 4 in prepare a basic tax return. I know I need help when it comes to doing a basic tax return. And in chapter 3 I scored the lowest in checking and savings. I have always tried to stick to a budget. When I was younger my mom, dad and stepmom tried to instill in me a budget. To where I had a amount of money to stick with for the month. And in return it helped me when as I got older in having a budget and even more so now with a child. I budget all my money out so I know I have enough for bills and then have some extra spending money if I can. I track my expense by having a notebook and writing down everything I spend in certain places.
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