You Are About to Start Your First Semester in College

question 31

Essay

You are about to start your first semester in college and have decided to work out a budget for the year.
a. What are the advantages of preparing a budget in advance?
b. What information do you need to gather to be able to write up your budget?
a. A budget will help you deal with the ups and downs of your finances. It will help prepare you for the world of work. Most of all, a budget provides a sense of security, allowing you to take control of your spending.
a. What are the advantages of preparing a budget in advance?
b. What information do you need to gather to be able to write up your budget?
b. You will need to know your monthly income and expenditures. To uncover your expenditures, keep track of everything you spend for a week. Also, go through any records you've kept to identify where you've spent money for the last year. You will also need to list each source of income.

---

Definitions:

Accurate Decisions

The process of making choices that are both correct and based on reliable information.

Statistical Reasoning

The ability to understand, interpret, and apply statistical techniques and data, and to evaluate the reliability and validity of the conclusions.

Small Samples

Studies or experiments that involve a relatively small number of participants, which may limit the generalizability of the results.

Record-Breaking Season

A period during which new records are established, surpassing previous performance benchmarks.