Question

Imagine that you have gotten you first full-time job. You are now living on your own and managing your money. Since it is your first job, what you are making covers your expenses and leaves you with a little disposable income. What is the BEST next step to help you manage and track your spending?

(1 point)

Hire a personal CPA.


Invest in a variety of stock options.


Set up a personal checking account.


Sign-up for several different credit cards.

Answer 1

Set up a personal checking account.

Reason: a checking account gives you a central place to deposit paychecks, pay bills, use a debit card, and review monthly statements or online transaction history—making it easy to manage and track your spending.