WorksheetsDebt
Total questions: 16
Worksheet time: 8mins
Everything that's said on TV and by the media is true.
True
False
College students receive an average of four phone calls and five mailings each month encouraging them to:
Get a job
Go to graduate school
Apply for credit cards
Open a bank account
If you spread a myth long enough, what happens?
Nothing; it is still a myth
It becomes accepted as the truth
It depends on where the myth is spread
Nothing; myths aren't spread
Debt is a wise financial choice because of the rewards you get back.
True
False
You get a new way of doing things from
Making the same mistakes over and over again
Learning
Someone else always telling you what to do
Ignoring
Debt has been marketed to us for so long, most people struggle to imagine life without it.
True
False
You have to build credit to survive.
True
False
What myth do students believe about debt in college?
That they can buy whatever they want while in college and can pay for it later.
That they shouldn't buy anything in college and save all their money.
That debt doesn't count before they turn 21.
You can only collect debt from things like credit cards.
It's always better to just give family money rather than expect it back.
True
False
What percentage of millionaires started with nothing?
0%
80%
10%
25%
If you're poor and you do rich people stuff, like saving and budgeting, you'll:
End up rich
Stay poor for the rest of your life
Bounce back and forth between wealthy and broke
Do nothing
It is a myth that car payments are a way of life and you'll always have them.
True
False
The most expensive way to finance and operate a vehicle is:
A car lease
Paying cash for a car
Taking out a car loan
Borrowing the car from a friend
Never take out more than a ______________ fixed-rate mortgage.
15-year
30-year
5-year
10-year
You can do everything with a debit card that you can do with a credit card except:
Rent a car
Buy a car
Go into debt
Buy stuff on Amazon
When you pay cash rather than swiping a card, you spend _______________.
12-18% more
12-18% less
6-9% more
7-11% less
