Financial Literacy LOYO I #1

T or F: Only paying by credit card may cause you to miss out on better deals, but allows you to pay for items later.

Which of the items would be considered a want for someone that works from home?

T or F: You should not consider your debt when using the 50-30-20 Method

T or F: Credit cards allow you to spend as much as you want, but are not accepted for most transactions.

Why should you work to be an informed consumer?

Which is a good way to make an informed decision about a purchase?

Which is a better buy? A 4 oz bottle of fragrance for $10.00 ($2.50 an ounce) or a 5 oz bottle for $12.00 ($2.40)?

T or F: A skilled consumer must buy only from clearance sales, pay in cash, consider unit prices, buy only local goods

T or F: Credit cards are accepted almost everywhere, but you're at a higher risk of being overcharged at checkout.

What is a risk of using cash? 

T or F: A skilled consumer must research before buying, buy what's needed, know unit prices, choose best pay method

How is money divided using the 50-30-20 Method?

When reading reviews of products, some have labels that tell who wrote them. What is one type of these two labels?

If money was tight, which expense should be chosen to take care of first?

When reading reviews of products, some have labels that tell who wrote them. What is the other type of these two labels?

T or F: A skilled consumer must buy only what's needed, shop locally, not use credit, and buy only from clearance sales.

T or F: Credit cards come with fraud protection, but credit card numbers can be copied by identity thieves

T or F: A skilled consumer must research before buying, buy only from sales, avoid using credit, consider unit prices