Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the questions from 34 to 38. Equity is a vital indicator of financial well-being, representing the contrast between your assets' value and outstanding debt. Actively pursuing equity-building strategies can bolster net worth, alleviate financial burdens, and secure a brighter future. Below are some effective approaches to build equity in various aspects of life: ...

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the questions from 34 to 38.

Equity is a vital indicator of financial well-being, representing the contrast between your assets' value and outstanding debt. Actively pursuing equity-building strategies can bolster net worth, alleviate financial burdens, and secure a brighter future. Below are some effective approaches to build equity in various aspects of life: home ownership, business ventures, and personal finances.

In terms of home equity, making regular mortgage payments gradually reduces debt and increases your stake in the property. Refinancing at lower interest rates minimises expenses and accelerates equity growth. Strategic home improvements enhance market value, contributing to equity gains. Additionally, profitable property sales capitalise on favourable markets, significantly boosting equity.

Business equity hinges on augmenting your business's value relative to debt. Revenue growth through increased sales fortifies the business foundation, while expense reduction and market expansion stimulate equity growth. Attracting investors injects capital, amplifying overall business value and equity.

Personal equity entails reducing outstanding debts, prioritising high-interest repayments, and building retirement savings. Prudent investments diversify asset portfolios and potentially increase personal equity. Adhering to a comprehensive budget ensures responsible financial management, fostering steady personal equity growth.

Building equity requires commitment and perseverance, but the rewards are substantial. It empowers financial stability, security, and freedom, while boosting self-confidence and overall happiness. By implementing the strategies outlined, you can embark on the journey of equity building today, laying the foundation for a prosperous future.

Which of the following is the main idea of the passage?