Which statement is false?
a. The envelope method of budgeting relies on the use of cash only for certain types of expenses
b. Individuals tend to be overly optimistic in their budget forecasts primarily because they underestimate their income and overestimate their expenses.
c. The pay yourself first method differs from the envelope method because it removes funds at the beginning of the budget period, not at the end
d. The pay yourself first method of budgeting relies on an automatic transfer of funds into a savings vehicle before other expenses are paid