Question

Tina wants to start saving for college. She heard about CDs and mutual funds, but doesn’t know which is best for her. What should Tina do?
She should set aside $100 per month to put in a savings account.
She should wait and take out a student loan.
She should become more knowledgeable by talking with a financial adviser or by taking a class.
She should try to spend less and put whatever she can in a safe place.

Answer 1

Answer:

She should become more knowledgeable by talking with a financial adviser or by taking a class.

Explanation:

Although trying to set money aside, trying to spend less, or getting a student loan are not terrible strategies, it is difficult to know whether they are the best strategies for Tina. It is possible she might have more success with a different alternative. Therefore, the best thing she can do is talk to a financial adviser or take a class. These two options would help her become more educated about setting realistic goals.

Answer 2

Mutual funds are good and She should become more knowledgeable by talking with a financial adviser or by taking a class.