Post on 29-Dec-2015
Test Drive your knowledge!See how much you know about budgeting.
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What should you consider before purchasing a car?
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How much money I spend eating out
Overall price of the car including interest rate
How much money can I borrow
The size and color of the car
Correct! Sunny skies ahead!
The first thing to consider before purchasing a car is the overall amount you can pay – including interest
rate.
Incorrect! Watch out for rain!
The first thing to consider before purchasing a car is the overall amount you can pay – including interest rate.
What other expenses should I factor into my budget for buying a car?
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Insurance and registration fees
The price per gallon of gas
The cost of tires
All of the above
Correct! Sunny skies ahead!
There are a lot of things you need to think about when making your budget. You should consider all expenses
including insurance and registration, maintenance, and gas.
Incorrect! Watch out for rain!
There are a lot of things you need to think about when making your budget. You should consider all expenses
including insurance and registration, maintenance, and gas.
What items affect my personal credit score?
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Credit card minimum monthly payments
Signing up for additional credit cards
Cell/telephone late payments
All of the above
Correct! Sunny skies ahead!
Applying for new credit cards and minimum or late payments will impact your credit score because lenders will
think that you may not be able to pay back the loan on time.
Incorrect! Watch out for rain!
Applying for new credit cards and minimum or late payments will impact your credit score because lenders will
think that you may not be able to pay back the loan on time.
What is the best way to get a free credit report?
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Your bank
Walmart and Target stores
FreeCreditReport.com
AnnualCreditReport.com
Correct! Sunny skies ahead!
Though a lot of websites say they give free credit reports and scores you end up paying. AnnualCreditReport.com is the only site gives you one free credit report every year.
Incorrect! Watch out for rain!
Though a lot of websites say they give free credit reports and scores you end up paying. AnnualCreditReport.com is the only site gives you one free credit report every year.
If you borrow $100 at a monthly interest rate of 10% and you pay back the lender in two months.
How much did you pay them in interest?
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$10
$20
$40
$50
Correct! Sunny skies ahead!
10% of $100 is $10. And every month you owe the lender $10 more.
If you pay the lender back in two months you owe them $20.
Incorrect! Watch out for rain!
10% of $100 is $10. And every month you owe the lender $10 more.
If you pay the lender back in two months you owe them $20.
Here is your score:
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