Data Sufficiency (DS) | Can financial budgeting help individuals avoid debt?

­Statement(1):  Many individuals struggle with mounting debt due to excessive spending resulting from a lack of financial planning.

This statement suggests that a lack of financial planning (and hence budgeting) leads to excessive spending, which in turn results in mounting debt. It implies that if individuals engaged in financial planning (including budgeting), they might avoid the excessive spending that leads to debt. Therefore, this statement alone suggests that financial budgeting can help individuals avoid debt. So, this statement alone issufficient.
 
Statement(2): To avoid taking out loans, individuals should practice responsible budgeting, enabling them to save for emergencies and achieve financial stability.

This statement explicitly states that practicing responsible budgeting helps individuals avoid taking out loans ==> can help individuals avoid debt. So, this statement alone issufficient .

==> Answer is D­
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Statistics : Posted by Gemmie • on 26 May 2024, 02:14 • Replies 6 • Views 727

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