Question

how can a parent be financially responsible?
○ by spending money left over after paying bills
○ by opening a new credit card when one is maxed out
○ by creating a savings plan for future expenses
○ by following a budget only when money runs out

Explanation:

To determine how a parent can be financially responsible, we analyze each option:

• "By spending money left over after paying bills" does not necessarily imply responsibility as leftover money could be spent impulsively without planning for future needs.
• "By opening a new credit card when one is maxed out" is irresponsible as it can lead to more debt.
• "By creating a savings plan for future expenses" is a responsible financial practice as it involves planning for future needs (e.g., education, emergencies, etc.).
• "By following a budget only when money runs out" is not responsible because a budget should be followed consistently, not just in times of financial strain.

Answer:

C. by creating a savings plan for future expenses