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Study Guide Answers
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1.
What is debt?
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A condition of owing money to someone else |
2.
Individuals who are burdened by debt that cannot be repaid can do what?
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Declare bankruptcy |
3.
The term ____________ refers to the mount of a loan.
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Principal |
4.
Debt itself is always a bad thing. True or False.
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False - it's not necessarily a bad thing. |
5.
What is "living within your means?"
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Not spending more than you earn. |
6.
What is the best way to efficiently manage money?
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Devise a budget |
7.
What will happen if you do not consistently pay your bills on time?
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You will get a bad credit record. |
8.
______________ is the pre-disclosed percentage you will have to pay extra of your credit card bill is not paid in full each month.
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Interest |
9.
You should always try to ____________ a portion of your earnings.
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Save |
10.
The amount of interest charged to your credit card bill is cumulative. True or False.
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True |
11.
If you choose to get a _______________, research the matter thoroughly.
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Credit card |
12.
When dealing with loans, you must consider the ___________ and _________ involved.
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Principal, Interest |
13.
It's never too late to develop good financial habits. True or False.
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True |
© Educational Video Network, Inc. 2005 - www.evndirect.com
Your leading source for curriculum-based educational videos and DVDs.
|