Paying off all credit card debt is an example of which step of financial planning?
A) take a financial inventory
B) know where your money goes
C) execute the plan
D) monitor and assess your plan
E) create a budget

Question

Quizplus · Accepted Answer

Paying off all credit card debt is an action that falls under the execution step of financial planning. Execution involves taking the steps necessary to achieve the goals set forth in the financial plan, which in this case is to pay off the credit card debt. The other steps - taking a financial inventory, knowing where your money goes, creating a budget, and monitoring and assessing your plan - are all important components of the overall financial planning process but are not directly related to executing a specific action.

Paying Off All Credit Card Debt Is an Example of Which