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Question $13$

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Which of the following statements are incorrect about the Pay Yourself First Method compared to the Envelope Method in personal finance budgeting?$$

I$)$ The Pay Yourself First Method emphasizes saving a portion of income before any expenses, while the Envelope Method allocates cash for specific spending categories and restricts spending to those amounts.

II$)$ The Pay Yourself First Method forces you to stick to a cash$-$only budget, while the Envelope Method focuses on tracking savings through bank transfers.

III$)$ The Pay Yourself First Method is designed for long$-$term investments only, while the Envelope Method is exclusively for managing monthly bills.

IV$)$ The Pay Yourself First Method removes net cashflows from your account at the beginning of the budget period, whereas the Envelope Method requires placing cash in separate envelopes for each category with strict adherence to budgeted categories.

Question $13$Select one:

a$.$

II and III

b$.$

II and IV

c$.$

I, II and III

d$.$

III and IV