18
QuizMultiple Choice

Unit 2: Mastery Form & Test

Question 18 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Brenden wants to set aside money for times when he may be without work due to illness or layoffs. Which method would be best?

Answer
A
college savings account for his daughters
B
checking account
C
personal savings account
D
home equity line of credit

Explanation

A personal savings account is best for setting aside money for emergencies such as illness or layoffs. It keeps the funds available while separating them from money used for everyday spending. A college savings account is earmarked for education, and a home equity line of credit is borrowed money rather than savings.

AI-written and checked against the verified answer.

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