Spending Wisely Larry's personal balance sheet shows $1, 200 in credit cardd debts; a savings account...

 

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Spending Wisely Larry's personal balance sheet shows $1, 200 in credit cardd debts; a savings account of $550; and personal property amounting to $3, 700 in rare stamps. Recently he was promoted at his part-time job. Because of that and because he made an effort to reduce his expenses, he had a positive cash flow of $600 last month. He asks what you think he should do with the surplus cash. Evaluate Larry's possible choices and come up with a specific plan of action for his use of the surplus. Spending Wisely Larry's personal balance sheet shows $1, 200 in credit cardd debts; a savings account of $550; and personal property amounting to $3, 700 in rare stamps. Recently he was promoted at his part-time job. Because of that and because he made an effort to reduce his expenses, he had a positive cash flow of $600 last month. He asks what you think he should do with the surplus cash. Evaluate Larry's possible choices and come up with a specific plan of action for his use of the surplus.

Answer rating: 100% (QA)

I would recommend that Larry use his surplus cash to pay down his credit card debt Although he has a ... View the full answer