Coronavirus Cash Crisis: Should I Keep Paying Down My Debt?

The video discusses strategies for managing debt during the pandemic, emphasizing the importance of covering minimum debt payments due to the uncertainty of when normalcy will return. It advises against accelerating debt payments unless one has a stable job and a healthy emergency fund. The video also highlights the need to understand the specifics of debt payments, such as whether payments go to the principal, to make informed decisions based on one's financial situation.

Why is it advised not to accelerate debt repayment during the pandemic?

• Because debt is not a priority

• Due to uncertainty about when normalcy will return

• Because interest rates are low

• To save money for vacations

What is a 'Unicorn' position according to the video?

• Being debt-free

• Having a stable job and a healthy emergency savings fund

• Owning a unicorn-themed business

• Having multiple sources of income

What should you consider if you are not in a 'Unicorn' position?

• Buying a new car

• Paying only the bare minimum on debts

• Investing in stocks

• Taking a vacation

What should you understand about your debt payments?

• Whether payments go to the principal

• The interest rate of your savings account

• The name of your bank manager

• The color of your credit card

What factor should influence your decision on making extra debt payments?

• The weather forecast

• Your income security

• The latest fashion trends

• Your favorite TV show