Nonessential spending includes expenses such as:A.paying interest on loans.B.buying health insurance.C.going to the movies.D.paying federal taxes.
Question
Solution
Nonessential spending refers to the money spent on goods or services that are not necessary for survival or mandatory obligations. From the options given:
A. Paying interest on loans - This is an essential expense because it's a mandatory financial obligation.
B. Buying health insurance - This is also an essential expense as it's crucial for covering potential health issues and medical costs.
C. Going to the movies - This is a nonessential expense. It's a form of entertainment and not necessary for survival or a mandatory obligation.
D. Paying federal taxes - This is an essential expense because it's a legal obligation.
So, the answer is C. Going to the movies.
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