4. Debt Management

It is better to pay by credit card when purchasing items?

• True

• False

The least amount that must be paid on a credit card balance each month is the

• Minimum payment

• Credit limit

• Late fee

• Money time

It is better to have a

• Visa card

• Mastercard

• Debit card

• American Express card

Before receiving a loan you will need to sign a

(a)  

According to Moneysmart a good target to have in your emergency fund in case something happens is

• approximately $500

• enough to cover 3 months of expenses

• emergency fund... what emergency fund ...

• enough to cover subscription and entertainment expenses

When you put money into a savings account, you'll earn extra money called interest. If you leave that interest in the account along with the original amount, it

• compounds

• earns

• is compulsory

• is a deposit

If you want to buy a house, then you should start with identifying

• a house to buy

• a good location to live in

• SMART goals

• SMIRT goals

The bank will NOT grant a loan to your 25 year old sister, if she

• is trustworthy and has exceptionally good credit

• has no credit history or a job to pay them back

• has a reasonable plan for the money she needs to borrow

• has other assets to offer as security for the loan

Most banks offer an app so you can log in to check how much money has been deposited, spent, and so you know your account

• withdraw

• deposit

• budget

• balance

When wanting to buy a 'smart' television, it is best to

• wait until a new model comes out before purchasing

• use a credit card

• save up a deposit and then use a credit card

• save up for it and pay with your debit card