ECONOMICS
CREDIT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
sell something to get the money
|
|
|
get a part time job and work extra
|
|
|
Save money to pay it back
|
|
|
Quit borrowing more money
|
Detailed explanation-1: -The first and most important step in getting out of debt is to stop borrowing money. No more swiping credit cards, no more loans, no more new debt. Reshaping your attitude toward money and debt is the most fundamental change that has to happen.
Detailed explanation-2: -Consider paying down your credit cards with the highest interest rates first or paying off your smallest debt first. Look for ways to reduce your expenses and put the money you save toward your debt. Student loan forgiveness programs and income-based repayment programs can help with student loans.
Detailed explanation-3: -List everything you owe. Decide how much you can pay each month. Reduce your interest rates. Use a debt repayment strategy. Be diligent moving forward. 31-Dec-2022
Detailed explanation-4: -Add Up All Your Debt. Create a Realistic Debt Payoff Plan. Adjust Your Budget. Find Ways to Make More Money. Hold Yourself Accountable. 22-Jan-2023