EVERFI Vault Module 4: Credit and Borrowing

When you get paid a certain amount for each hour you work.

• Salary

• Wage

• Gross income

• Net income

When you get the same amount of money each week, but you’re expected to work a certain number of hours each week.

• Salary

• Wage

• Gross income

• Net income

Something you do to earn money.

• job

• salary

used to buy something now and you will have to pay it back when our bill comes later.

• credit card

• check

It's good to use cash for smaller things and things you can afford now.

• True

• False

To be reliable means that you can be trusted.

• False

• True

If your credit history is good, others are more likely to lend you money if you need it.

• False

• True

1. Cash is _____.

• a. money you’ll borrow

• b. money you’ll pay back later

• c. money you have today

• . money you don’t have

Credit is _____.

• a. money you are given and promise to pay back later

• b. money you borrow and promise to pay back later

• c. money you borrow and don’t have to pay back later

A debt is _____.

• a. money you have to pay pack

• b. money you don’t have to pay back

• c. money used for needs, not wants

• d. money used for wants, not needs