THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It can cause people to go into debt (owe money).
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Consumers were able to afford more goods.
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Consumers didn’t have to pay for goods.
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It caused people to make less money.
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Detailed explanation-1: -Using credit cards and not paying them off monthly can be detrimental to your credit. The major downsides of using credit when you don’t have the cash to pay it off later-besides the high-cost interest-includes hurting your credit, straining relationships with family and friends, and ultimately bankruptcy.
Detailed explanation-2: -Some of the most common expenses that throw people into credit card debt are unexpected medical bills, emergency expenses and even just everyday spending, such as on groceries, that adds up.
Detailed explanation-3: -What are the main causes of debt? A variety of issues can cause debt. Some causes may be the result of expensive life events, such as having children or moving to a new house, while others may stem from poor money management or failure to meet payments on time.
Detailed explanation-4: -Using credit also has some disadvantages. Credit almost always costs money. You have to decide if the item is worth the extra expense of interest paid, the rate of interest and possible fees. It can become a habit and encourages overspending.