Each of the following are helpful tips for preventing inadvertent growth of debt except:

Question

BlackTom AI · Accepted Answer

The question asks which item is not a helpful tip for preventing inadvertent growth of debt, so we evaluate each choice.
Option 1: Monitor your purchase behavior. This is a useful strategy because tracking what you buy can reveal spending patterns, help identify unnecessary expenses, and reduce impulse purchases, all of which curb debt growth.
Option 2: Take advantage of credit incentives when opening an account. While tempting, incentives like rewards or sign-up bonuses can encourage you to spend more just to earn the benefit, potentially increasing debt rather than preventing it. This makes it a poor fit for preventing inadvertent debt growth.
Option 3: Sequence purchases. Planning purchases in a deliberate order or pacing spending can prevent clustering of big expenses, avoid cash flow problems, and help maintain debt at manageable levels, making this a helpful tip.
Option 4: Limit the number of accounts you have. Reducing the number of active credit accounts can simplify monitoring, reduce temptation to open new lines of credit, and help prevent debt from spreading across too many accounts, which is also helpful.
In summary, options 1, 3, and 4 are aligned with preventing inadvertent debt growth, whereas option 2 can inadvertently promote increased spending. Therefore, option 2 is the one that does not serve as a helpful tip for preventing inadvertent debt growth.

FSOS 1301 (001) Final Exam/Quiz

Each of the following are helpful tips for preventing inadvertent growth of debt except:

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