SPIRAL #18

Which of the following is an advantage of using a credit card?

• Interest is charged for the use of a credit card.

• Consumers can purchase things now, and pay for them later in the event of an emergency.

• You could be a victim of identity theft.

The person or company who loans money or extends credit to you is known as the?

• Borrower

• Lender

• Creditor

• Supplier

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Money that is owed. Can accumulate when expenses are higher than income for a business.

• Debt

• Loss

• Profit

• Revenue

Tags

CCSS.6.NS.C.7C

Which of the following is considered a short-term loan?

• Less than 1 year

• 1-2 years

• 2-3 years

• 3-4 years

Even when people use credit cards “responsibly” they typically spend more than those paying in cash.

• True

• False

Which of the following options is NOT an example of how to use a credit card responsibly?

• Only use them for things you were already going to buy, and that you can afford.

• Always pay off your balance in full each month.

• Read the fine print on anything you sign.

• Pay your minimum payment until your entire balance is paid off regardless of the balance.

When trying to establish your monthly budget, which of these categories is allotted the highest percentage over all other categories, but still should be around 25-35% of your net income?

• transportation

• savings

• utilities

• housing

Tags

CCSS.6.RP.A.3C

The first step you should take when it comes to saving and investing is:

• Build up an emergency fund of either $500 or $1,000 depending on your income.

• Pay off any and all debt you have from loans, credit cards, family, etc.

• Build wealth by investing 15% of all income you earn.

• Go to college and major in something that pays really well.

budget

•  financial plan of revenue and expendtitures
• total amount of money owed
• the dollars that become available for investors to use when others save
• persons or institutions to whom money is owed

credit cards

• a payment card issued to users as a method of payment.
• payment made for the use of borrowed money
• group that channels savings to investors
• total amount of money owed