ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$25
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$50
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$75
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$150
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Detailed explanation-1: -There are several important factors that influence decision making. Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance.
Detailed explanation-2: -At least 20% of your income should go towards savings. Meanwhile, another 50% (maximum) should go toward necessities, while 30% goes toward discretionary items. This is called the 50/30/20 rule of thumb, and it provides a quick and easy way for you to budget your money.
Detailed explanation-3: -Which is a possible benefit of having a good credit history? Obtaining a low interest rate on a loan. Omar is having trouble paying his rent and making minimum payments on his student loan and credit cards.