Slobo is an immigrant to the United States from a formerly communist country. He is searching for advice to help him succeed in a capitalist system. He would be well advised to:
A) find a job and live frugally in order to save money to invest.
B) rely heavily on government assistance programs to maintain a relatively comfortable life style.
C) get a credit card, even if it has a very low credit limit, and use it to establish a good credit rating.
D) follow the buy now, pay later rule of personal finance.

Question

Quizplus · Accepted Answer

Slobo would be well advised to find a job and live frugally in order to save money to invest. This is because in a capitalist system, success is often associated with the ability to generate wealth through investments, and living frugally is a good way to free up money for investments. Relying heavily on government assistance programs or following the buy now, pay later rule of personal finance are not good strategies for success in a capitalist system, as they can lead to debt and financial instability. Getting a credit card with a low credit limit and using it responsibly can be a good way to establish a good credit rating, but it should not be the only strategy for success.

Slobo Is an Immigrant to the United States from a Formerly