ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Willie doesn’t want to ask his mom for money next week if he is short on cash? What is one way that Willie can change his spending or income so he isn’t spending more than he is receiving?
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Cut his hours at work
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Cut his expenses by not buying concert tickets
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Give his friend more money for gas
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Increase the amount of time he spends playing video games
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Explanation:
Detailed explanation-1: -Convenience debt is when you use credit to buy something expensive and pay over a long period of time. A car loan is an example of convenience debt.
Detailed explanation-2: -1) Identify your Financial Situation The first stage of the financial planning process constitutes assessment on what is happening in your life right now and how you can change your financial situation.
Detailed explanation-3: -Liquidity describes how easy it is to convert a financial asset into cash without causing a big loss in value. If you don’t have cash on hand to cover expenses, liquidity can help you convert assets into usable income.
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