Scenario Two Charles uses his phone all the time for texting, streaming videos, and checking social media. His bill is usually manageable, and he's always been able to work it into his budget . But this month, his cell phone bill is higher than normal- 398 ! Yikes! In the past his bill has always been around 80-100 He calls the phone company and finds out he'd accidentally been streaming on his data plan instead of on Wi-Fi He was charged extra for the extra data he used. The phone company won't change the bill since it was Charles' mistake . If he doesn't pay the bill on time, he'll get a late fee, which would be an extra 30 plus interest! 3. Should Charles use his emergency fund to pay off this unexpected bill? Yes square No 4. Explain your reasoning.

Question

Scenario Two Charles uses his phone all the time for texting, streaming videos, and checking social media. His bill is usually manageable, and he's always been able to work it into his budget . But this month, his cell phone bill is higher than normal- 398 ! Yikes! In the past his bill has always been around 80-100 He calls the phone company and finds out he'd accidentally been streaming on his data plan instead of on Wi-Fi He was charged extra for the extra data he used. The phone company won't change the bill since it was Charles' mistake . If he doesn't pay the bill on time, he'll get a late fee, which would be an extra 30 plus interest! 3. Should Charles use his emergency fund to pay off this unexpected bill? Yes square No 4. Explain your reasoning.

Answer 1

3. Yes4. Charles should use his emergency fund to pay off this unexpected bill because it is an urgent expense that he cannot afford to delay. The late fee and interest would add up, making the situation worse. Using the emergency fund ensures that he can pay off the bill on time and avoid any additional charges.

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