Everfi Vault - Understanding Money

Front

How is buying with credit different than paying with cash?

Back

With credit, you borrow money and repay later, with interest.

Front

Buying something with a credit card means you can make payments over time.

Back

True

Front

Adults usually use credit to buy things that are extremely expensive, like houses or cars.

Back

True

Front

Before letting someone borrow something, you need to know if that person is reliable and honest.

Back

True

Front

You can be reliable when borrowing things from friends by never giving those items back.

Back

False

Front

People should only lend things to friends who always return things on time and in good condition.

Back

True

Front

Buying with credit means that you can pay for the things from your checking account.

Back

False

Front

Credit is an endless supply of money.

Back

False

Front

An adult might use credit to pay for a car, a house, and a dishwasher.

Back

True

Front

Paying with a credit card is like taking out a loan that never has to be repaid.

Back

False