18 Questions
What is the primary benefit of consolidating debt?
Simplifying debt payments into a single payment
What is the debt avalanche method of paying off debt?
Paying off the debt with the highest interest rate first
Why is having a side gig important in achieving financial wellbeing?
It ensures financial stability in case of job loss or other financial emergencies
What is the key to achieving financial freedom, according to the text?
Prioritizing what truly matters to you
What is the primary reason for reducing expenses in building wealth?
To execute a key component of building wealth
What is the potential drawback of not consolidating debt?
Having to track multiple payment dates and debt balances
What is the percentage of income that should be saved according to the Six Laws of Wealth?
20%
What is the primary reason for adopting fiscal discipline according to the tips for getting out of debt?
To control your spending habits
Which of the following is a recommended strategy for getting out of debt in your 20s and 30s?
Directing your cash towards eliminating debt as much as possible
What is the main reason for investing in yourself according to the Six Laws of Wealth?
To gain knowledge and skills to increase your earning power
Which of the following is a recommended tip for saving money from the 'Pinaka' Show?
Magbaon (bringing your own food)
What is the primary purpose of setting aside a portion of your income according to the 10 Saving Tips?
To build an emergency fund
What is the main advantage of reducing expenses when earning a small income?
It makes a bigger impact on your finances compared to increasing income
What is the purpose of having a financial freedom fund?
To reduce your dependence on your primary income source
What is the benefit of seeking professional help for managing your finances?
It will help you navigate various programs and consolidation options
Why is it important to have at least one credit account?
To start building a credit history
What is the recommended approach to managing your credit account?
Immediately pay your purchases on it without carrying a balance
What is the relationship between a good credit score and saving money?
A good credit score will actually save you money in the long run
Learn how to break free from debt and achieve financial freedom by prioritizing your spending and making smart financial decisions. Discover the importance of discipline and consolidation in managing your debt.
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