If my used car payment will be $250 per month, the financial challenge I would face is that: D - My car payment is higher than my discretionary spending.
What are financial planning skills?
Financial planning skills can be defined as the ability of an individual to determine the most appropriate (best) financing and investing activities for himself or herself, or a business firm after evaluating all available options.
What is discretionary spending?
Discretionary spending can be defined as a financial cost that an individual, household, business firm completely can survive without, if necessary. This ultimately implies that, discretionary spending is an amount of money that is spent by an individual, household, business firm (consumers) on less significant (nonessential) goods or services, other than necessities such as:
In this scenario, we can reasonably infer that this person's car payment is higher than his or her discretionary spending.
Read more on discretionary spending here: https://brainly.com/question/27232573
#SPJ1
