Which of the following describes a behavior that is not financially responsible?

Making only the minimum payment on a credit card bill each month

Setting aside a percentage of your paycheck each month for savings

Looking for a credit card with the lowest possible interest rate

Checking your account balance before making purchases

Which of the following does not describe an advantage of having and/or using a credit card?

Credit cards can help you stay within budget since you can't spend more than what's in your linked bank account.

You can potentially earn rewards while using your credit card.

Credit cards can allow you to build good credit by making your payments on time.

Credit cards can be helpful in case of emergencies.

Which is not a true statement about the disadvantages of certain methods of payment?

You may be charged interest if you do not pay off your debit card balance each month.

You will not be able to make purchases online if you are paying with cash.

You may be charged an overdraft fee if you try to spend more on your debit card than is in your linked account.

You may be at risk for hacking if you use online banking.

Which of the following does not describe a disadvantage of having and/or using a credit card?

Credit cards charge overdraft fees when you spend more money than you currently have in your bank account.

Credit cards charge monthly interest fees when the balance is not paid off.

Credit cards make it easier to overspend.

High balances and late payments on credit cards can hurt your credit score.

Ross received a surprise bonus from his company. Ross cannot decide how to best spend the money. Which of the following options would be the MOST financially responsible?

Paying down his credit card balance that is charging 15% interest

Loaning the money to his friend to help pay some bills

Using the money to buy a gift for his friend

Putting the money towards a new pair of shoes

Which is not a true statement about the advantage of certain methods of payment?

A debit card allows a person to earn rewards.

A credit card can help a person build good credit.

Cash may allow a person to "feel" their purchases and discourage overspending.

Online banking is a convenient way to check your balance, pay bills, and make deposits.

Which of the following does not describe an advantage of having and/or using a debit card?

You can potentially earn rewards while using your debit card.

Debit cards can be used at an ATM to get cash quickly.

Debit cards require pin numbers for an extra layer of protection.

Debit cards can help you stay within budget since you can't spend more than what's in your linked bank account.

Which of the following describes a behavior that is not financially responsible?

Opening a new credit card when you reach the credit limit on your current card.

Using credit card reward points to pay part of the monthly balance.

Looking through a store's weekly advertisement for sales or coupons.

Automatically transferring money to saving each payday.

Which is not a true statement about the disadvantages of certain methods of payment?

Debit cards charge interest fees if you do not pay off the balance each month.

It can easier to overspend when using aa credit card.

When using cash, the only record of the transaction is a reciept.

Online banking apps often have limitations on deposits.

Skylar has a part-time job and makes about $350 each month. She needs to save to help pay for her first car in a few years. Should Skylar...

Set up a direct deposit for a set amount to go to her savings account on her payday

Wait until the end of each month and save any remaining money from her paycheck

Krista has $8,000 in savings and saves $250 each month. She wants to buy a used car for $10,200 because it has nicer features than her current car. Should Krista...

Continue to save $250 each month until she has saved enough to buy the car

Use her $8,000 towards the car and finance the $2,200 at a 4% interest rate

The Johnson's want to move into a neighborhood where several of their friends live, but they would have to use the amount they currently save each month to pay for the mortgage. Should the Johnson's...

Buy a different home within their budget in a different area and continue to add to their savings each month

Buy the house to enjoy being close to friends and spend carefully until one spouse gets a raise at work

Determine if the decision described below is financially responsible or financially irresponsible. Maria and Pat are recently married and work for the same company. They each pay $45 per month for health insurance. Pat combined their insurance for a new rate of $74 per month.

Financially responsible; the new rate will save them $16 per month.

Financially irresponsible; the new rate will cost them $29 more per month.

02/28/25 Analyzing Financial Situations

Authored by Caitlin Estes

Mathematics

8th Grade

Used 6+ times

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Read the description shown. Select the method of payment it describes.

Cash

Credit Card

Debit Card

Online Banking

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02/28/25 Analyzing Financial Situations

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Read the description shown. Select the method of payment it describes.

Identify which form of payment is being described in the situation below.Forrest bought a pair of shoes by swiping his card at the store. He'll actually pay the balance at the end of the month.

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Identify which form of payment is being described in the situation below.
Forrest bought a pair of shoes by swiping his card at the store. He'll actually pay the balance at the end of the month.