Which of the following statements about The Pie metaphor covered in the lecture are TRUE:

1. The Pie metaphor is structured around the formula that income less tax less consumption is equal to saving.
2. Planning to be generous should be done out of any residual money left-over after saving for the future and paying for living expenses.

Neither of the statements are true (both are false)

Only statement 1 is true

Only statement 2 is true

Both statements are true (neither are false)