Unit 11: The Bottom Line on Borrowing Lesson 33: Loans and You Module 114: Expenditures That May Require a Loan

Match it! Select the correct answer from the pull down...Good luck!

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

_____requires you to put up property or Collateral to get the Loan

any loan the you pay over a period of time is called an ____

An __________ does not require collateral. People get these loans because they have a good credit record.

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.

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.

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.

Think of good debt as an