James Gripka has a mutual fund that automatically takes $50 out of his checking account each month. Which suggestion for obtaining the money he needs for investing is he following?
A) Taking advantage of gifts, inheritance and other windfalls
B) Taking advantage of employer-sponsored retirement programs
C) Participating in an elective savings program
D) Making a special effort once or twice a year to save
E) Using financial leverage to increase investment returns

Question

Quizplus · Accepted Answer

James is participating in an elective savings program by automatically deducting $50 from his checking account each month.

James Gripka Has a Mutual Fund That Automatically Takes $50