Question

Question 5 of 5

Ruby lives with her mom, but she wants to start taking steps toward financial
independence. Which of the following is the best first step for Ruby to take based on
her accounting knowledge?
Ruby should open a bank account that will help her save money toward buying a house.
Ruby should take additional college classes to move into a higher paying career.
Ruby should budget to figure out how much rent she can afford for her own apartment.
Ruby should put some of the money from her paychecks in a retirement savings account.

Answer 1

The best first step for Ruby to take based on her accounting knowledge is to budget to figure out how much rent she can afford for her own apartment.

Step-by-step explanation:

The best first step for Ruby to take based on her accounting knowledge would be to budget to figure out how much rent she can afford for her own apartment.

By creating a budget, Ruby can carefully track her expenses and income, and determine how much she can allocate towards rent.

This step is important for her to understand her financial limitations and make informed decisions about her living arrangements.

Answer 2

Ruby should budget to figure out how much rent she can afford for her own apartment.

Step-by-step explanation:

Understanding her finances and creating a budget would help Ruby assess her income, expenses, and manage her resources effectively. This step is crucial in determining what she can afford, especially in terms of housing costs like rent, before considering other financial goals or major expenses, like buying a house or allocating funds for retirement savings. This approach will lay the groundwork for her financial planning and independence.