Rita must choose between two job offers. She wants to select the job with a salary that will afford her the higher standard of living for the next few years. Job A offers a 3% raise every year, while Job B will not provide a raise for the next few years. If Rita chooses Job A, she will live in City A. If Rita chooses Job B, she will live in City B. Rita finds that the price of goods and services today are about the same in both areas. Prices are expected to rise, however, by 4% in City A every year, and stay the same in City B. Based on her concerns about standard of living, what should Rita do?

Personal finance is a process which involves learning, practicing and applying a variety of financial skills. It ranges from budgeting, managing, paying off debt, understanding credit and various investment products. It is essential to develop your financial literacy skills. It helps in improving your personal finance management.