Advantages and Disadvantages of Payment Methods

Which of the following is an ADVANTAGE of using CASH?

• almost impossible to track

• can be lost or stolen

• limited to spending what you have

• people think twice before making an impulse purchase

Tags

CCSS.RL.11-12.6

Which of the following is a DISADVANTAGE of using CASH?

• makes sticking to a budget easier

• No transaction fees

• limited to spending what you have

• Instant money on hand

Which of the following is a DISADVANTAGE of using CHECK?

• don’t have to carry around a lot of money

• reduce the risk of losing money through accident or theft

• have a record of purchases made with checks

• some businesses do not accept checks.

Which of the following is an ADVANTAGE of using CHECK?

• takes time to write a check when you make a purchase.

• have a record of purchases made with checks

• inconvenient to carry a checkbook

• If your checkbook is lost or stolen, others may try to write checks on your account.

Tags

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

CCSS.RI.8.5

Which of the following is an ADVANTAGE of using DEBIT CARD?

• enables you to get cash at many locations from ATMs

• Debit cardholders who use their cards infrequently may forget their PINs

• A debit card can be lost or stolen.

• Some people forget to enter amounts for their purchases in a transactions register

Which of the following is a DISADVANTAGE of using DEBIT CARD?

• small, so it is convenient and easy to carry around.

• You can make purchases quickly and easily using a debit card.

• Debit cardholders who use their cards infrequently may forget their PINs

• Carrying it is safer than carrying cash or checks

Tags

CCSS.RI.8.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.1

CCSS.RL.7.2

Which of the following is a DISADVANTAGE of using CREDIT CARD?

• easy to carry and use

• can purchase things now and pay for them later

• Fees and interest may be charged for the use of credit cards

• are safer to use than cash or checks, since there is a limit on the amount of money that can be lost if the card is stolen

Which of the following is an ADVANTAGE of using CREDIT CARD?

• easy to forget that each time a credit card is used, debt is created; too much debt might be difficult to repay

• Fees and interest may be charged for the use of credit cards

• can purchase things now and pay for them later

• none of the above

Which of the following is an ADVANTAGE of using ONLINE PAYMENT?

• You can buy goods and services nationwide or internationally.

• You may forget your password or user name

• If you make a purchase at a non-secure website, you could be a victim of identity theft.

• You may pay an additional shipping fee for goods purchased and sent to you

Which of the following is a DISADVANTAGE of using ONLINE PAYMENT?

• You can make payments from your home.

• It’s convenient.

• You don’t need an envelope, stamps, and a walk to the mailbox to send in your payment.

• You may pay an additional shipping fee for goods purchased and sent to you