Which of the following is the best advice a person can follow about his or her money and personal finances?
A) Close your eyes and hope for the best.
B) Pay attention to it.
C) Do what your parents did at their age.
D) Keep earning more, and expenses will take care of themselves.
E) Credit cards will damage your financial reputation.
Answer: B
Explanation: B) People have to be realistic about their money to stay in good financial shape. Not paying attention results in unrealistic perceptions about one's finances, which can produce unfortunate outcomes. Tracking income and outgo is very important.
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