By using the financial planner's advice, Penny and Ira were able to find ways to cut back on their spending and began to live more modestly. They began to have a few hundred dollars left over each month after handling their normal expenses. Which of the following is the first thing they should do with their extra money? a. buy one nice household item that they will both enjoy as a reward for their thriftiness.
b. pay off their debts, starting with the ones that have the highest finance costs.
c. start a savings account at a local bank
d. buy bonds in a major corporation