ann needs to have money available to pay an annual renters insurance premium of $224, ten months from now…

ann needs to have money available to pay an annual renters insurance premium of $224, ten months from now. she has savings of $0 in her current budget, a retirement fund of $4,833, and a reserve fund of $0. which of the following would not be part of her reasonable plan to establish a reserve fund for this expense?\na. reduce a non - essential expense to save money.\nb. establish a savings account for other expenses.\nc. pay the premium right away using the retirement fund investments.\nd. divide it into a monthly savings amount, and add the savings to the budget.\nplease select the best answer from the choices provided\no a\no b\no c\no d

ann needs to have money available to pay an annual renters insurance premium of $224, ten months from now. she has savings of $0 in her current budget, a retirement fund of $4,833, and a reserve fund of $0. which of the following would not be part of her reasonable plan to establish a reserve fund for this expense?\na. reduce a non - essential expense to save money.\nb. establish a savings account for other expenses.\nc. pay the premium right away using the retirement fund investments.\nd. divide it into a monthly savings amount, and add the savings to the budget.\nplease select the best answer from the choices provided\no a\no b\no c\no d

Answer

Brief Explanations:

Retirement funds are meant for long - term retirement purposes and should not be used for short - term, non - retirement related expenses like renters insurance premium. Reducing non - essential expenses, establishing a savings account for other expenses, and dividing the amount into monthly savings are reasonable ways to save for the upcoming expense.

Answer:

C. Pay the premium right away using the retirement fund investments.