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Finance Chapter 4

QuestionAnswer
True or False. Almost 70% of Americans are living paycheck to paycheck. True
True or False. You have to build credit. False
True or False. Credit is not necessary to survive. There is no good reason to go into debt. True
True or False. You can spend money on whatever you want while in college and pay for it later when you're making more money. False
True or False. You need a new car. False
True or False. You should buy a car you can afford with cash. True
True or False. If I loan money to a friend or relative, I will be helping them. False
True or False. If I loan money to a friend or relative, the relationship will be strained or destroyed. True
True or False. By co-signing a loan, I am helping out a friend or relative. False
True or False. The bank requires a co-signer because the person isn't likely to repay. True
Created by: ally122518