Income
Salary 3,500
Tax withholding (490)
401(k) 0
Health insurance (210)
Net salary 2,800
Total net income $2,800.00
Expenses
Rent (900)
Utilities (325)
Internet (62)
Credit card payments (200)
Food (625)
Clothes (200)
Transportation (200)
Entertainment (400)
Total expenses $2,912.00
Difference ($112.00)
How can James free up more money to pay down his credit card debt?
(1 point)
Responses
He has to cut back on other expenses.
He has to cut back on other expenses.
He has to complete an income statements every month.
He has to complete an income statements every month.
He has to pay less in rent each month.
He has to pay less in rent each month.
He has to start contributing to his 401(k).
1 answer
The best response to help James free up more money to pay down his credit card debt is:
He has to cut back on other expenses.
This option suggests that James can review his current expenses and identify areas where he can reduce spending in order to make more money available for debt repayment.
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6 answers