Juana is a junior in college and receives scholarship funds at the beginning of each semester. In the past, this money has been sufficient to cover her costs each term. But this fall she ran out of money before the term was over.
Which of the following is the MOST sensible step she can take to make sure she doesn't run out in the spring?
A) Create a budget to help her smooth out her spending and avoid surprises.
B) Drop one of her classes and get a job to add to her income.
C) Request a cost of living increase in her scholarship funds.
D) Track her income to see where the money is going.
What is a loan principal?
A) the fee on a loan
B) the amount owed on a loan
C) the interest rate paid on a loan
D) the interest payment on a loan
What is one advantage of debt?
A) It allows large projects to be built.
B) It discourages borrowing.
C) It encourages borrowing.
D) It contributes to recessions.
Soraya is trying to avoid running out of money every month. She has asked her employer to deposit her paycheck directly into her bank account.
She has also cut back on expenses by eating out just once a week, driving her car as little as possible, and limiting visits to her favorite coffee shop. She has also put all discretionary purchases on her credit card so that she can pay for everything at the end of the month. What do you think she should do to avoid running out of money every month?
A) She should eat out less.
B) She should drive more and spend less on public transportation.
C) She should have her paycheck mailed to her so she can deposit it herself.
D) She should not use her credit card so much, but instead rely more on cash purchases.
Which of the following is a good way to cut spending and keep to your budget?
A) Drive more rather than taking the bus.
B) Eat out rather than cooking at home.
C) Use cash rather than credit cards.
D) Avoid texting on Wi-Fi networks.
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