Personal Finance and Management Flashcards
1
Q
What credit agency is recommended in FYCS?
A
Annual Credit Report
2
Q
What is the SNL skit depicting credit card users in debt?
A
“Don’t Buy Stuff You Can’t Afford”
3
Q
Opportunity Cost
A
What you give up as a result of a decision
*every spending decision has an opportunity cost
4
Q
When managing cash and credit, you should…
A
- Pay yourself first
- Know how much in left over at the end of the month to reduce debt
5
Q
Credit Card Act of 2009
A
Prohibits banks from issuing credit cards to kids under 21, unless they prove they have a job.
6
Q
Credit cards and college kids
A
84% of the student population has credit cards
