All of the answers are true regarding determining a time period and frequency for your budget process, EXCEPT: Question 6 options: You can set up a budget either on an annual basis, a monthly basis, or a weekly basis. You want to keep a manageable amount of data for any one period so the more financial activity you have, the shorter your budget period should be. The timing of your budget will depend on how much financial activity you have and how much discipline or guidance you want your budget to provide. You should assess your progress on the time frame of how you receive your paychecks: either weekly, or semi-monthly. Since your budget needs to be monitored consistently, you don't want to be flooded with so much data that monitoring becomes to daunting a task