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7.
If you find yourself with a lot of debt, which of these is a RESPONSIBLE strategy for paying off
your debts?
a. Pay your secured debt first so you don't lose your house or car, then worry about your
unsecured debt later on.
b. Pay your unsecured debt first, then worry about your secured debt later on because that debt is
backed up by your house or car.
C. Cut out all unnecessary spending from your budget, and put all the extra cash toward paying
down debt.
d. File for bankruptcy so you can start anew with a clean slate.

Respuesta :

Answer:

C

Explanation:

The most responsible strategy among the given options to pay off one's debt in case of a huge debt would be:

C). Cut out all unnecessary spending from your budget, and put all the extra cash toward paying  down debt.

  • In case of being burdened with a huge debt, the most significant and efficient strategy would be to cut off or discontinue all the additional and unnecessary expenditures.
  • This will assist in maximizing the amount of savings to be paid off towards the debt and reduce the load.
  • It will not only prevent the overburdening of the debt amount but also help you to continue with your necessary expenses while repaying the debt amount gradually at the same time.

Thus, option C is the correct answer.

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