Credit Decisions Quick Check
2 of 52 of 5 Items
Question
James has prepared his income statement:
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 pay less in rent each month.
He has to pay less in rent each month.
He has to cut back on other expenses.
He has to cut back on other expenses.
He has to start contributing to his 401(k).
He has to start contributing to his 401(k).
He has to complete an income statements every month.
He has to complete an income statements every month.
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