WorksheetsCredit and Credit Cards Quick Quiz
Total questions: 8
Worksheet time: 6mins
To build good credit what is one thing you can do?
Buy lots of stuff and owe a lot of money
Buy only what you need on credit
Buy a new phone every year
Stop paying your bills e
You should get as many credit cards as you can so you can buy lots of stuff
YES
NO
Creditors will consider your income, how long you have been at your job, and your credit and credit history to determine if they will give you a loan
Debbie goes to college. She has a monthly income of $1,800 per month (work study, school grants and scholarships). She has rent of $1000 per month, electricity of $150 per month, groceries of $300 per month, and transportation cost of $15 per month because she uses public transportation, and her cell phone bill at $125 per month. Should Debbie apply for a few credit cards so she has some extra money each month or budget within her means?
No, she still has $210 dollars left for incidentals like soap , shampoo etc. and she can save a little if she needs to buy new clothes or shop at a thrift/second hand store for clothes
Yes, its always nice to have a few credit cards
Choose two activities that can help you build good credit...
Pay your bills on time
Buy a house with a mortgage you cannot afford
Only borrow when you absolutely need to such as in case of an emergency
Spend a lot and use credit to pay bills and have fun
All credit cards have the same interest percentages on items purchased.
When we budget or buy things what do we need to know?
How much you will get paid next week.
How much money you have
Weekend plans
Colten has to buy a new phone from overuse (way overuse). Should Colten buy the new iPhone 5000 with the green shock absorbing case with telepathic relay capabilities at $4000 or a more affordable phone with general capabilities that is good enough to provide for his communication needs for work and for social interaction?
The new iPhone 5000 - because why not, I don't need to eat, pay my bills or get to work
The affordable phone because I want to make smart choices regarding budgeting and I like to eat
