Question
How is financial planning different for individuals with three children than those with one? (1 point)
• They will not be able to afford postsecondary education for their children.
• They will not be able to put away money for their retirement.
• They need to budget for more food, clothes, and possibly childcare.
• They need to plan for emergencies.
• They will not be able to afford postsecondary education for their children.
• They will not be able to put away money for their retirement.
• They need to budget for more food, clothes, and possibly childcare.
• They need to plan for emergencies.
Answers
GPT 3.5
• They need to budget for more food, clothes, and possibly childcare.
Having three children instead of one requires parents to allocate more funds for basic necessities such as food and clothing. Additionally, they may need to factor in the cost of childcare if both parents are working. This increased financial responsibility can affect their overall budget and require adjustments in spending habits and saving plans.
Having three children instead of one requires parents to allocate more funds for basic necessities such as food and clothing. Additionally, they may need to factor in the cost of childcare if both parents are working. This increased financial responsibility can affect their overall budget and require adjustments in spending habits and saving plans.