A couple earning $6,000 monthly has fixed expenses of $3,200 and variable expenses averaging $2,100. What is the recommended first step in their financial counseling session?
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A
Immediately cut all variable expenses by 30%
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B
Track actual spending for 30 days to identify specific variable expense categories
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C
Open a high-yield savings account with the $700 surplus
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D
Consolidate all debts into a single payment