Everfi: Future Smarts: Ways to Pay

A ______ is usually paid on a biweekly or monthly basis for professional employment.

• salary

• stipend

• wage

• benefit

Which of the following is the best reason to use cash for purchases?

• getting more from the ATM is easy to do

• keeping track of how much you have spent is simple

• splitting bills with friends is easier

• losing it won't be a big deal

What factor has the biggest impact on a credit score?

• having a variety of credit

• the amount of money you owe on your credit cards

• your history of making payments on time

• the number of years that you have used credit responsibly

What is the best strategy to avoid paying interest on your credit cards?

• pay the minimum balance each month

• pay the full balance each month

• have credit cards from two different banks

• make payments online

Which of the following is not a source of income?

• your annual salary for doing your job

• your monthly student loan payment

• the stipend you receive for doing an internship

• the wages you receive for a work shift

Which of the following statements is TRUE?

• Applying for several lines of credit in a short period of time can help boost a person's credit score.

• Paying off a credit card balance in full can have a negative impact on someone's credit score.

• The longer you use credit responsibly, the higher your credit score.

• Low risk borrowers tend to have low credit scores.

Which of the following statements is TRUE about payday loans.

• they are harder to pay back because of low fees and high interest rates

• they are harder to pay back because of high fees and high interests rates

• they are easier to pay back because of lower fees and higher interest rates

• they are easier to pay back because of lower fees and lower interest rates

Amy's new summer job at the pool will pay her $9 hour. Which term describes this type of hourly income?

• salary

• stipend

• wage

• benefit

Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?

• credit card

• debit card

• direct deposit

• prepaid card

What is the problem with paying only your minimum credit card balance each month?

• it lowers your credit score

• you have to pay interest

• the bank will cancel your credit card

• all of the above