ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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using credit for everything
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saving for the future
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writing down expenses to track spending
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creating a budget based on your NET income
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Detailed explanation-1: -Three common credit problems are: Lack of enough credit history. Denied credit application. Fraud and identity theft.
Detailed explanation-2: -The correct answer is option d. It often leads to impulsive buying. Having a credit card has both benefits and drawbacks.
Detailed explanation-3: -Making larger payments to pay down the balance faster can help you pay less in interest overall. Credit card interest is expensive, so the goal should be to pay off your balance every month to avoid incurring interest.
Detailed explanation-4: -Detailed Solution. Stamp by the finance minister is NOT correct. Credit refers to an agreement in which the lender supplies the borrower with money, goods, or services in return for the promise of future payment.