Question

Kelly knows that her car is getting older and will probably need repairs soon. She saves $50 each week to be used for the repairs when they are needed.
Is this a financially responsible decision or a financially irresponsible decision? Explain the financial benefits or costs of this decision.

Answer 1

This is a financially responsible choice because whenever she will need money for the repairs she will not need to go into debt to fix her car or have to deal with a broken car. however this does stop her from paying for some extra stuff that she might want such as a food that she is craving that day or a drink that costs a little more than the alternative.