4
AssignmentMultiple Select

Contracts

Question 4 • FL-2102373-Personal Finance and Money Management Honors

Henry is having trouble paying his rent and making minimum payments on loans and credit cards. Which should he consider? Check all that apply.

Answer
A
Apply for a larger loan at a different bank.
B
Create a budget to track income and expenses.
C
Apply for a credit card to pay for his other expenses.
D
Make less than the minimum payments on his loans and credit cards.
E
Talk to a consumer credit counseling service.

Explanation

Henry should first make a budget to see where his money is going and identify possible changes. A consumer credit counseling service can also help him make a plan for managing his debts. Taking on more credit or paying less than the required minimum could increase his debt or lead to fees and other consequences.

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