Everfi: Future Smarts: Ways to Pay

Front

A ______ is usually paid on a biweekly or monthly basis for professional employment.

Back

salary

Front

Which of the following is the best reason to use cash for purchases?
getting more from the ATM is easy to do
keeping track of how much you have spent is simple
splitting bills with friends is easier
losing it won't be a big deal

Back

keeping track of how much you have spent is simple

Front

What factor has the biggest impact on a credit score? Options: having a variety of credit, the amount of money you owe on your credit cards, your history of making payments on time, the number of years that you have used credit responsibly

Back

your history of making payments on time

Front

What is the best strategy to avoid paying interest on your credit cards?

Back

pay the full balance each month

Front

Which of the following is not a source of income? your annual salary for doing your job, your monthly student loan payment, the stipend you receive for doing an internship, the wages you receive for a work shift

Back

your monthly student loan payment

Front

Which of the following statements is TRUE?
1. Applying for several lines of credit in a short period of time can help boost a person's credit score.
2. Paying off a credit card balance in full can have a negative impact on someone's credit score.
3. The longer you use credit responsibly, the higher your credit score.
4. Low risk borrowers tend to have low credit scores.

Back

The longer you use credit responsibly, the higher your credit score.

Front

Which of the following statements is TRUE about payday loans: they are harder to pay back because of low fees and high interest rates, they are harder to pay back because of high fees and high interests rates, they are easier to pay back because of lower fees and higher interest rates, they are easier to pay back because of lower fees and lower interest rates?

Back

they are harder to pay back because of high fees and high interests rates

Front

Amy's new summer job at the pool will pay her $9 hour. Which term describes this type of hourly income?

Back

wage

Front

Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?

Back

debit card

Front

What is the problem with paying only your minimum credit card balance each month?

Back

you have to pay interest