Coronavirus Cash Crisis: Which Bills Should I Pay First?

The video tutorial discusses how to prioritize bill payments, emphasizing the importance of paying for essential utilities like light and water first. It advises protecting housing and transportation needs, especially if they are crucial for employment. The tutorial suggests creating a list of essential expenses and contacting service providers to manage payments effectively. It also highlights that some payments, like student loans, may not have immediate consequences if missed.

Which of the following is considered an essential utility that should be prioritized for payment?

• Internet

• Electricity

• Gym Membership

• Cable TV

Why is it important to prioritize housing and transportation expenses?

• They are luxury expenses.

• They are not necessary for daily life.

• They can be easily replaced.

• They are essential for maintaining employment.

What is a recommended method for determining the order of bill payments?

• Ignoring non-essential bills

• Paying the smallest bills first

• Making a list of essential expenses

• Guessing based on past payments

What should you do after listing your essential expenses?

• Ignore the list

• Contact each service provider

• Pay all bills at once

• Cancel all non-essential services

What is an example of something that cannot be taken away even if you default on payments?

• Your credit score

• Your college degree

• Your house

• Your car