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Justin really wants to attend the 8th-grade graduation ceremony, dance, and field day, but all the tickets combined cost $75, and he doesn't have that much. Justin has no job, gets no allowance, and his birthday was just last month, so he's not expec
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
What is the best way to avoid going into large debt on your credit card?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
Each of the following factors impacts your credit score EXCEPT...
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
Miguel's parents keep telling him he should worry about his credit score. He says, Why bother? Why should Miguel care?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
What is one benefit of borrowing money from a friend or family member instead of from the bank?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
Craig isn't sure if he should open up a credit card account or get a bank loan. What question is MOST useful in helping him decide which financial product he should get?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
When discussing a loan, such as a college loan or auto loan, what does the word principal mean?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
What is the key difference between a credit card and a debit card?
Credit cards allow you to borrow money to pay for things, while debit cards take money straight from your own checking accoun
It might cause problems in their friendship if Justin doesn't repay her on time or if he then asks for even more money
The total amount you borrowed
Friends and family will typically work with you to set up a repayment plan you can afford
A high credit score will make it easier for him to get loans or credit cards with better interest rates
Are you trying to make a bunch of small purchases over time or one large purchase?
Pay your full balance every month
Bank account balance
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