Question
It is important to recognize the warning signs of getting into debt trouble. By identifying these signs early on, you can take steps to avoid or manage your debt. What is one common warning sign of being in debt trouble? Choose 1 answer: A not having money on you because it is all in savings accounts B only using cash for purchases C making minimum payments on your credit card
Answer
4.6
(295 Votes)
Caleb
Professional · Tutor for 6 years
Answer
(C) making minimum payments on your credit card
Explanation
Recognizing warning signs of debt trouble is crucial for effective debt management. One prevalent warning sign is when individuals only make minimum payments on their credit cards rather than paying off the balance in full. This behavior often leads to accumulating interest, increased overall debt, and can signal financial instability or difficulties in managing expenses.