One key to establishing a sizable savings balance is to:
A) use the "pay yourself last" approach.
B) automatically deposit a percentage of each paycheck into a savings account.
C) pay the minimum on each credit card bill.
D) use traditional banks instead of online savings banks, since they typically pay higher rates of interest.

Question

Quizplus · Accepted Answer

By automatically depositing a percentage of each paycheck into a savings account, individuals can build their savings over time without having to actively think about it or budget for it each month. This approach also ensures that saving is a priority and happens consistently.

One Key to Establishing a Sizable Savings Balance Is To