Vault

Which of the following is an example of a household asset?

• A car
• Family photo albums
• Groceries

How is buying with credit different than paying with cash 

• With credit, you don’t have to pay interest on late payments
• With credit, you borrow money to make the purchase, and repay the money borrowed later on 
• There is no difference between buying with credit or paying with cash

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

• True
• False

How do adults usually use credit?

• To buy small items, like a pack of gum
• To buy things that are extremely expensive, like houses or cars
• To pay their babysitter Before letting someone borrow something,

What would you want to know about that person?

• If the person is reliable and honest
• If the person is funny
• If the person likes nice things

How can you be reliable when borrowing things from friends?

• By always returning things on time
• By never giving back what you borrow
• By returning things in poor condition

People should only lend things to friends who:

• Are really funny but always return things late
• Always return things on time and in good condition
• Sometimes return things on time, but have been known to break things once in a while

How is buying with credit different than paying with cash?

• With credit, you borrow money to make the purchase, and repay the money borrowed later
• With credit, you can pay for things from your checking account
• C.There is no difference between buying with credit or paying with cash

What is credit?

• A form of borrowing
• An endless supply of money
• A household asset

An adult might use credit to pay for:

• A car
• A house
• A dishwasher
• All of the above