In the Context of Establishing a Sizable Savings Balance, the Concept

question 23

Multiple Choice

In the context of establishing a sizable savings balance, the concept of "pay yourself first" suggests that you:

• A) use a substantial amount from your savings account for charitable purposes every month.
• B) have a predetermined amount from each paycheck automatically deposited into your savings account.
• C) invest a major part of your paycheck in one specific financial security rather than investing in a diversified financial portfolio.
• D) make discretionary and nondiscretionary payments prior to investing in financial securities.