What is a primary goal of consumer debt education?

The primary goal of consumer debt education is to equip consumers with knowledge to make informed financial decisions. This involves teaching individuals about managing their finances effectively, understanding the implications of debt, and the importance of budgeting and saving. By providing consumers with insights into interest rates, repayment terms, and the potential consequences of debt, they can make choices that align with their long-term financial wellbeing. This foundation of understanding helps individuals avoid pitfalls related to excessive borrowing and aids them in navigating their financial future with confidence and responsibility.

In contrast, the other options do not align with the fundamental objective of consumer debt education. Taking out more loans does not promote financial health, and encouraging reliance on credit cards can lead to increased debt and financial strain. While strategies for avoiding fees may be beneficial, they are a narrower aspect of a broader educational framework that aims to empower consumers with comprehensive financial literacy.