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provides loans based on the value of the item used as collateral. When the loan is repaid, the item is returned. If the loan and interest are not repaid, the shop owns the collateral and will sell it to recover the money loaned.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
provides a fixed amount of money to finance a specific purchase for a set period of time. Monthly payments are required. You know the exact amount of the monthly payment, the number of monthly payments, and the total cost of the loan when you sign th
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
Think of good debt as an
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
An __________ does not require collateral. People get these loans because they have a good credit record.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
provides a line of borrowing that you can use and pay back as you want as long as you pay the minimum balance each month. Credit cards offer a form of revolving credit.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
is going into debt to buy a home, to finance a small business, or to pay for a college education may lead to improved options in your life.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
It is the consumer's responsibility to ___________for both planned and unplanned expenses. Saving even a small amount every pay period can help people handle unexpected expenses without going into too much debt.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
credit card
budget
Closed-end credit
pawnshop
unsecured loan
Investment
Good Debt
Open-end credit
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