FINANCIAL RESPONSIBILITY

Match each payment option with one of its advantages.

mailing a check

• no need to share banking information

• quick payment processing

• consistency in one-time bill payment

Match each payment option with one of its advantages.

submitting an online payment

• no need to share banking information

• quick payment processing

• consistency in one-time bill payment

Match each payment option with one of its advantages.

automatic withdrawal

• no need to share banking information

• quick payment processing

• consistency in one-time bill payment

Choose the advantages of using a credit card. Check all that apply.

• builds credit history

• no monthly payments

• no interest fees

• small payments over time

• emergency funds intact

Which is a disadvantage of withdrawing more money than is available in a checking

account?

• late payment fee

• overdraft fee

• interest fees

Which is not a good financial decision?

• building a savings account and taking out fewer and smaller loans in the future

• making monthly payments on a loan on time

• paying off a loan as soon as possible

• frequently spending more money than is earned

Henry is having trouble paying his rent and making minimum payments on loans and credit cards. Which should he consider? Check all that apply.

• Apply for a larger loan at a different bank.

• Create a budget to track income and expenses.

• Apply for a credit card to pay for his other expenses.

• Make less than the minimum payments on his loans and credit cards.

• Talk to a consumer credit counseling service.

Choose the statement that describes an advantage of paying a bill through the mail with a check.

• No additional costs are involved.

• The payment is noted immediately.

• The bill is automatically paid on time.

• You do not have to share banking information.

Which is a possible benefit of having a good credit history?

• having a checking account

• low interest rate on a car loan

• high interest rate on a credit card offer

• bankruptcy

Freya wants to use her debit card to purchase a $135 tablet computer.

What must Freya consider before using her debit card? Check all that apply.

• She must be sure there is at least $135 in her bank account for the purchase.

• She must check the interest rate on the debit card.

• She must check to see if any automatic payments are scheduled for her

  account.

• She must check her credit history.

• She must make sure she will be able to make the monthly payments