By Using the Financial Planner's Advice, Penny and Ira Were

question 94

Multiple Choice

By using the financial planner's advice, Penny and Ira were able to find ways to cut back on their spending and began to live more modestly. They began to have a few hundred dollars left over each month after handling their normal expenses. Which of the following is the first thing they should do with their extra money?

• A) buy one nice household item that they will both enjoy as a reward for their thriftiness
• B) pay off their debts, starting with the ones that have the highest finance costs
• C) start a savings account at a local bank
• D) buy bonds in a major corporation

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Definitions:

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The process by which an innovation or technology is adopted over time among members of a social system, community, or market.

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Entities that purchase broad patents and use them to sue or threaten companies for patent infringement, often without producing any related products or services themselves.

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Payments made to the owners of intellectual property, such as patents or copyrights, for the use of their property.