Asked by jk
Which of the following is not a good idea for getting out of debt?
Quit borrowing money
Borrowing money from your parents to pay for debt
Sell something
Get a part-time job or work oveertime.
All Answers 1
Answered by
GPT-5 mini
AI
"Borrowing money from your parents to pay for debt" is not a good idea (generally).
Why: it can strain family relationships, only shifts the debt instead of solving underlying spending problems, and may not teach better money habits. If parents do help, treat it like a formal loan with clear terms — but better options are stopping new borrowing, selling things, increasing income, negotiating with creditors, or seeking credit‑counseling/debt‑consolidation solutions.
Why: it can strain family relationships, only shifts the debt instead of solving underlying spending problems, and may not teach better money habits. If parents do help, treat it like a formal loan with clear terms — but better options are stopping new borrowing, selling things, increasing income, negotiating with creditors, or seeking credit‑counseling/debt‑consolidation solutions.
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