raysas car needs a car part replacement that ...
raysas car needs a car part replacement that costs about $500 dollars. raysas budget is tight, and the only extra money she has is $300 in her emergency fund. what possible impacts can the car part replacement have on raysa? check all that apply. raysa may have more debt if she uses a credit card to have her car fixed. raysa might have to delay other purchases until she can build up her funds. raysa may need to cut down spending in other areas to pay for the unexpected expense. raysa might worry less because she has enough money in her emergency fund to cover the cost. raysa might have to delay achieving her monthly financial savings goal to get her car working again.
Answer
# Brief Explanations:
- If using a credit - card for a $500 expense with only $300 in emergency fund, debt will increase.
- Tight budget means other purchases may be delayed.
- Cutting spending in other areas is a way to cover the expense.
- With insufficient emergency funds, monthly savings goal may be delayed. She doesn't have enough money in emergency fund to cover the cost.
# Answer:
- Raysa may have more debt if she uses a credit card to have her car fixed.
- Raysa might have to delay other purchases until she can build up her funds.
- Raysa may need to cut down spending in other areas to pay for the unexpected expense.
- Raysa might have to delay achieving her monthly financial savings goal to get her car working again.