Which of the following is a financial mistake?

• Getting a large tax refund

• Using a budget to track where your money goes

• Paying the full amount on your monthly credit card bill

• Save money 1st, then spend the remaining on your needs/wants

Why isn't getting a large tax refund the best money habit?

• You're withholding the right amount from your paycheck

• You could be putting that money towards savings/retirement

• You earn interest on the refund

• You have access to that money in case of an emergency

Which of Monique's actions is a classical financial pitfall?

• She installed antivirus and spyware protection on her laptop

• She used a secured network when working at the coffee shop

• She gave her info to someone who claimed to be a bank teller

• She rented her textbook via amazon.com

When might it be a good idea to see a financial advisor?

• When you're successful in accomplishing your financial goals

• If you got married or your tax situation changed

• You're on track towards achieving your retirement goals

• If your salary remains relatively the same

How do people get trapped in the payday loan cycle?

• Customers usually only need to borrow money once

• Lenders typically give loans out with a low APR

• Customers may visit several payday loan lenders to get $

• Lenders typically give out long-term loans

True or False: Most borrowers use payday loans to cover emergencies.

• True

• False

Who are the primary lenders of title loans? (hint: choose 2 correct answers)

• Local banks and financial institutions

• Mom and Pop lenders

• A few private institutions

• Large, publicly traded companies

If you decide to pawn an item of yours, which of the following is TRUE?

• You will not pay extra charges besides the APR

• The loan amount is usually = to the value of your item

• You cannot sell an item to a pawnshop

• If you don't come back for you item, the pawnshop keeps it

What strategies do most predatory lenders use to attract customers? (hint: choose 2 correct answers)

• Short-term loans

• High interest rates

• Quick access to cash

• Credit score is not taken into consideration

What is a disadvantage of a rent-to-own transaction?

• A credit check is not always necessary

• There are usually no down payments needed

• The consumer ends up paying more than the value of the item

• The item may be delivered to your house or apartment