Ch 19 Money Management

Which of the following items is an advantage of using credit?

• Causes debt

• Ties up future income

• Allows impulse buying

• Manages financial emergencies

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Ch 19

Which of the following items is not a type of credit?

• Credit card

• Deductible

• Charge account

• Installment credit

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Ch 19

The maximum amount that can be charged on a credit card is the ____.

• creditworthiness

• credit rating

• credit line

• credit balance

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Ch 19

____ insurance also provides liability coverage in the event that someone is injured in your home.

• Property

• Disability

• Health

• Life

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Ch 19

Use a ____ to see how you spend your money.

• deposit slip

• statement

• withdrawal slip

• spending calendar

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Ch 19

A set amount of money due on a set date is a ____.

• bill

• fixed expense

• budget

• Flexible expense

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Ch 19

The first step in making a budget is to ____.

• pay your bills

• open a savings account

• identify all of your debts

• identify all of your sources of income

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Ch 19

It is safer to base a budget on sure and steady sources of ______.

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Ch 19

____________________ is designed to provide financial security to the family of the insured if that person dies.

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Ch 19

If you fail to make a payment on an installment loan, the company can ____________________ the goods.

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Ch 19