Experts Suggest That You Spend No More Than 20 Percent

question 51

True/False

Experts suggest that you spend no more than 20 percent of your net income on credit payments.(However, 15 percent is much better.)

---

Definitions:

Social Status

The position or rank of a person or group within the society, often determined by factors like wealth, occupation, education, family background, and power.

Monetary Profit

The financial gain obtained when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Historically Associated

Linked or related through history, often pertaining to events, cultures, practices, or objects that have a shared or interrelated past.

Durability

The ability of an item or material to withstand wear, pressure, or damage.