Question

Which is not a good financial decision? building a savings account and taking out fewer and smaller loans in the future making monthly payments on a loan on time paying off a loan as soon as possible frequently spending more money than is earned

Answer 1

Answer: frequently spending more money than is earned

Explanation:

Answer 2

Frequently spending more money than is earned is not a good financial decision because it shows the mismanagement of money.

What are the basic factors which turn out good Financial Decision?

The following are factors to keep remaining in mind while making any financial decision:

• Putting together an emergency fund, retirement investing, etc.

• Make a plan for paying off your debts.

• Increasing Your Credit Score.

• Monitor your spending and net worth.

• Maintaining Your Financial Education

Thus, You will never be ahead if you spend more than you make; in fact, doing so is a surefire indication that your finances are in jeopardy. The best way to ensure that your income exceeds your outgoings is to keep track of them for a month or two before making a budget.

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