Coronavirus Cash Crisis: Which Bills Should I Pay First?

The video tutorial discusses how to prioritize bill payments by focusing on essential utilities like light and water, protecting key assets such as housing and transportation, and creating a payment plan by listing expenses. It also highlights the importance of understanding which assets, like a college degree, cannot be taken away even if certain payments, such as student loans, go into default.

Which of the following is considered an essential utility that you should prioritize paying?

• Cable TV

• Gym Membership

• Light

• Internet

Why is it important to prioritize housing expenses?

• To ensure you have a place to live

• Because it is a luxury

• To increase your savings

• To avoid paying taxes

What should you do to determine the order of paying your bills?

• Ignore non-essential bills

• Pay the smallest bills first

• Make a list of essential expenses

• Guess based on past payments

What is a suggested action to take with service providers regarding your bills?

• Cancel all services

• Ignore their calls

• Negotiate payment terms

• Pay only when reminded

What happens if you default on a student loan payment?

• Your degree remains unaffected

• You are banned from further education

• You face immediate legal action

• You lose your college degree