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Consumer Skills
Being a Wise Consumer
| Question | Answer |
|---|---|
| Consumer | a person who buys things or uses services |
| Due Date | The date of which a bill is due |
| Late Fee | an extra charge when a bill is not paid on time |
| Credit | money borrowed to pay for things you buy |
| Loan | money you borrow against your credit card or from a bank and then pay back monthly over a set repayment term |
| Interest | money paid regularly at a particular rate for the use of money lent |
| Credit Card | A plastic card that you use to purchase things on credit, which you will pay back later. |
| Minimum Payment | The least amount of money you can pay each payment period |
| Credit Report | The history of purchases you have made and whether you have paid bills and loans on time |
| Credit Bureau | a business that puts together credit reports |
| Cosigner | a person who agrees to pay for someone else’s credit card bill or loan if they can’t |
| exchange | taking an item back to the store and getting a different item |
| Unit Pricing | what something costs per ounce, pound, piece etc |
| Refund | returning an item and getting your money back |
| Service Contract | a promise from a company to repair what you buy if it breaks within a certain amout of time |
| impulse | to act without thinking it through |
Created by:
dtavernier
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