3.4 Quiz 14

Some people never experience a financial emergency.

• True

• False

Saving should only be part of your budget if you have extra money.

• True

• False

Saving money isn't easy at first, but it will make life a lot ______________ in the future if you make it a habit now.

• Harder

• Poorer

• Longer

• Easier

Which item should you save and pay cash for?

• Car

• Phone

• Vacation

• All of the above

The average car payment in America is

• $257

• $354

• $472

• $554

If you invested what Americans spend on car payments you could possibly retire with over 3.6 million dollars.

• True

• False

Always plan ahead for

• applying for credit cards

• getting student loans for school

• what you car payment will be

• large purchases

The first step you should take when you want to make a large purchase is...

• ask your parent for a loan.

• Get a credit card.

• Decide how much you'll need to save ad the time frame to save it in.

• Sell something valuable and use the money.

The amount of interest charged on a debt but not yet collected is called

• Accrued interest

• Interest rate

• Same-as-cash

• Growth rate