Means that all of an individual’s student loans are combined into one large loan, resulting in a lower monthly payment.

If trying to decide between getting a debit card, a prepaid debit card, and a credit card. Which statement is true?

All of the following are most likely to represent a fixed rate, unsecured debt except:

Luke has a credit card with a $1500 credit limit. His outstanding balance is currently $800. What is the maximum amount he can now spend on this credit card?

The annual interest rate is 12%. The borrower paid a total of $850 in interest and repaid the loan in 24 months. What was the principal?

Use the formula:

Principal= Interest/(Rate x Time)

Sally borrowed $750 and will pay interest at an annual rate of 12%. If the loan is to be paid back in six months, what is the dollar cost of the interest on this loan?

Interest = Principal x rate x Time (in years)

This strategy involves setting aside a portion of your income for savings or investments before spending on other expenses. This method is helpful because it ensures you prioritize your financial goals and build savings consistently, promoting long-term financial stability.

You just got a text alert from the bank that your account balance has dropped below $100 after a series of online payments. But you have not made any online payments. What would you do?

Protection for bank customers’ deposits up to $250,000, guaranteeing their money is still available if the bank goes out of business

It's often a good idea to pay more than the monthly amount due on an amortized loan because the extra payment will go to the interest.