Unit 1 - Budgeting Flashcards
1
Q
Interest rate
A
The amount a lender charges a borrower and is a percentage of the amount loaned
2
Q
3 pros for credit cards
A
-Convenience and easy access
-Buy now pay later
-Rewards such as cash back, miles or points
3
Q
3 cons for credit cards
A
-High interest rates
-Temptation in overspending
-Risk of accumulating high debt.
