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money management, credit and debt management, local financial support schemes quiz Flashcards | StudBud
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money management, credit and debt management, local financial support schemes quiz
money management, credit and debt management, local financial support schemes quiz
9 terms
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Enjoy learning all about financial literacy
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
What is the rule concerning spending on necessities,spending on unnecessary and savings
40:50:10
20:20:60
50:30:20
60:30:10
2
How can you make budgeting easier
decrease expenses
increase income
decrease income
increase expenses
3
why is a good credit score important?
Employers may check your credit score as part of a background check.
Landlords may check your credit score to see if someone is eligible
Utility companies may check your credit score to see if you're trustworthy
It looks cool
4
What are some causes of debt?
Divorce
Car loans and mortgages
Student loans
Job Loss
5
debt is money that you borrow and have to pay back, usually with interest.
False
True
6
Paying bills on time would raise your credit score
True
False
7
What is an excellent credit score?
800-850
700-749
650-699
750-799
8
What is a way to save money on expenses
Make saving automatic
Compare prices and look for discounts or coupons before you buy something
Use less water, electricity, and gas to lower your utility bills
Put your money in a separate account
9
Why is budgeting important
Helps to decrease chances of debt
Makes you look cool
Its not important
Ensures individuals don't overspend
