Which of the Following Is a Good Money Management Strategy?​

question 47

Multiple Choice

Which of the following is a good money management strategy?​

• A) ​Establish a simple record-keeping system to track how your income is being spent.
• B) Remember that dual-income families are more successful about limiting their spending than single-income families.​
• C) Don't use credit cards.​
• D) Rely on credit cards rather than loans to fund large purchases.​

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Definitions:

IMF

The International Monetary Fund, an organization aimed at fostering global monetary cooperation, securing financial stability, and facilitating international trade.

Self-sufficient

The ability of an individual, household, or community to provide for all their essential needs without relying on external resources.

Specializes

Refers to the focus of a business, region, or economy on the production of a limited scope of goods or services to gain a greater degree of efficiency.

System of Exchange

A structured arrangement through which trade is conducted, often involving a medium of exchange such as money.