6. Nadeem is considering several expenses: getting his car fixed, buying a newer car
in better shape, buying a suit to begin interviewing for a better job, going on a trip
with friends to Las Vegas, and buying a new video game console. Regarding getting
his car fixed, buying the suit, or buying a new game console, Nadeem has enough
cash on hand for two of these, but not all three. The trip to Las Vegas would require
him to put charges on his card and pay them off over the next several months with
interest, and he could only buy a newer car if he got the longest possible payment
plan that would have high interest. If you were a friend of Nadeem's, how would you
help him prioritize these expenses?
Think about what Nadeem can afford right now and what he really needs. Also think
about how he can get some of the more expensive things he wants without taking
on too much debt.