Answered

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



Answer :

GinnyAnswer

Final answer:

Spending more money than is earned is a detrimental financial decision that can lead to debt accumulation and financial instability.


Explanation:

Ofrequently spending more money than is earned is not a good financial decision. This habit can lead to accumulating debt, struggling to pay bills, and hinder financial stability in the long run.


Compounding interest can make debt repayment more challenging over time, especially if spending exceeds earnings, resulting in a cycle of debt accumulation.


To avoid financial pitfalls, paying off loans as soon as possible, making timely payments, and building savings are crucial steps towards financial security and stability.


Learn more about personal finance management here:

https://brainly.com/question/30237899


Other Questions