Jeff Bloom wants to have a house just like the one his parents had when he was a teenager. He finds the house he wants and gets an interest-only loan on it for the first five years. Which one of the answers best explains Jeff's spending?
A) Misunderstanding or lack of communication
B) The use of money to punish
C) The expectation of instant comfort
D) Keeping up with the Joneses
E) Overindulgence of children

Question

Quizplus · Accepted Answer

Jeff's decision to get an interest-only loan for the first five years indicates that he prioritizes instant comfort over long-term financial stability. He is willing to delay paying off the principal for the sake of having a house like his parents' immediately.

Jeff Bloom Wants to Have a House Just Like the One