Money Matters (from HMH Issues portfolio)

What is a credit card?

• A credit card is a type of loan that must be repaid in full each month.
• A credit card is a physical card used only for online shopping.
• A credit card is a savings account that earns interest on deposits.
• A credit card is a payment card that enables the holder to borrow funds for purchases.

What is a debit card?

• A debit card is a type of loan that must be repaid monthly.
• A debit card is a payment card linked to a bank account that allows direct access to funds.
• A debit card is a credit card that allows borrowing money.
• A debit card is a prepaid card that can only be used for online purchases.

What is a 401K?

• A 401(k) is a type of insurance policy.
• A 401(k) is a government grant for education.
• A 401(k) is a loan program for small businesses.
• A 401(k) is a tax-advantaged retirement savings plan.

Define the word "priority"

• Priority is the condition of being more important than something else.
• Priority is a synonym for equality.
• Priority refers to a physical location.
• Priority is a type of food.

Define "median weekly income"

• The median weekly income is the total earnings of all individuals in a population.
• The median weekly income is the average of weekly earnings in a given population.
• The median weekly income is the middle value of weekly earnings in a given population.
• The median weekly income is the highest weekly earnings in a given population.

What is the percentage of teens in the United States who use credit cards?

• 10%
• About a 1/3rd

• half of teens use credit cards

• 75%

In the article, what does "agonizing nightmare" imply?

• It is a significant, distressing state of mind caused by credit card debt

• A common occurrence in sleep with no emotional impact.
• A type of sleep disorder that causes excessive talking.
• A distressing or terrifying dream that causes significant emotional pain.

Fill in the blank: “If you can eat it, drink it, or wear it, ________or don’t buy it.”

• use your credit card

• use your debit card

• pay cash

• ask mom to pay for it

Define "interest" in the situation where we use credit cards

• Interest is the cost of borrowing on unpaid credit card balances.
• Interest is the fee charged for closing a credit card account.
• Interest is a reward for using credit cards responsibly.
• Interest is the amount of cash back earned on purchases.

Fill in the blank: Pay on time, or pay _

• it back

• interest

• the bank

• it off