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Introduction to Financial Literacy Flashcards | StudBud
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Introduction to Financial Literacy
Introduction to Financial Literacy
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Flashcards
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Questions
10
Answers
1
Which of these are true about credit cards?
Owning one will automatically hurt your credit score
They only charge interest if you carry a balance
They charge interest, even if you pay in full
They are always free to sign-up for
2
What percentage of Canadians aged 18-24 carry credit card debt?
25%
35%
50%
15%
3
What is the average price of a new car in Canada (2025)?
$48,600
$52,700
$25,200
$33,400
4
The average Canadian household carries $6,500 in credit card debt.
True
False
5
Using your debit card also helps improve your credit score.
False
True
6
What is the average credit card interest rate in Canada?
12.5%
25%
15.5%
19.99%
7
According to a study by Money.ca, how many Canadians regret a major financial decision made before age 25?
57.8%
46.4%
23.2%
72.9%
8
A car only depreciates (loses) in value if you constantly drive it.
False
True
9
Debit cards are more commonly used than credit cards in Canada.
False
True
10
What percentage of Canadians live paycheque to paycheque? (Spend the entirety of each paycheque on living expenses)
25%
61%
53%
70%
