Lily just received her student loan.The first thing she should do is ___________.

Question

Quizplus · Accepted Answer

The best choice is to subtract the necessities (such as rent, bills, groceries, etc.) from the full amount of the loan and then divide the extra over eight months. This will ensure that Lily has enough money to cover her basic needs throughout the school year without overspending or running out of money before the next payment. Buying a vehicle or taking out her boyfriend to dinner are both unnecessary expenses that could deplete her funds quickly, and putting it in the bank and forgetting about it could lead to overspending without a proper budget in place.

Lily Just Received Her Student Loan