Foundations in Personal Finance Unit 2

The cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan is the

• credit report

• annual percentage rate

• Debt Snowball

• Myth

Describe the negative consequences of taking on debt. What effect can debt have on your future?

A money myth that portrays student loans as the only financial option when it comes to funding one's college education

• FAFSA

• Mentorship

• "Good Debt"

• Grant

To buy an item with credit; paying over time.

• Financing

• Caveat Emptor

• Marketing

• Branding

Type of card issued by a bank that allows users to finance a purchase.

• Driver's license

• Prepaid card

• Debit card

• Credit card

What is the difference between a credit report and a credit score?

True/False You must establish credit in order to buy a house.

Which of the following things CANNOT be done with a debit card but can be done with a credit card?

• Rent a car

• Go in debt

• Purchase online

• Purchase an airline ticket

True/False A four year degree is necessary regardless of what career you're pursuing?

What excites you most about life after high school?