Check your understanding: spending habits module

The correct answer is "b. Impulse buying"

Impulse buying is an unplanned decision to buy a product or service. Please visit the risky spending habits section to read about impulse purchasing.

The correct answer is "b. Impulse buying"

Impulse buying is an unplanned decision to buy a product or service. Please visit the risky spending habits section to read about impulse purchasing.

The correct answer is "b. Impulse buying"

Impulse buying is an unplanned decision to buy a product or service. Please visit the risky spending habits section to read about impulse purchasing.

The correct answer is "b. Everyone has the same needs and wants more or less."

One person's want may be another person's need. For example, for someone who lives near a bus route, a car may be a luxury. However, for another person who doesn’t have access to public transit and can’t bike to work, a car may be a necessity. Please visit the prioritizing spending page to read about needs and wants.

The correct answer is "b. Everyone has the same needs and wants more or less."

One person's want may be another person's need. For example, for someone who lives near a bus route, a car may be a luxury. However, for another person who doesn’t have access to public transit and can’t bike to work, a car may be a necessity. Please visit the prioritizing spending page to read about needs and wants.

The correct answer is "b. Everyone has the same needs and wants more or less."

One person's want may be another person's need. For example, for someone who lives near a bus route, a car may be a luxury. However, for another person who doesn’t have access to public transit and can’t bike to work, a car may be a necessity. Please visit the prioritizing spending page to read about needs and wants.

The correct answer is "b. False."

Use your credit card only for things you would have purchased anyway (for example, your essential expenses like groceries). Please visit the impact on spending when using credit section to read about using a credit card.

The correct answer is "a. True."

The act of physically going to a store and paying with cash makes people more aware of how much they are spending. Therefore, people are more willing to spend more for the exact same product when they are paying with cash versus credit. Please visit the responsible spending page to read more about using credit.

The correct answer is "e. All of the above"

There are many strategies you can use to help you avoid making impulse purchases. Please visit the risky spending habits section to read about strategies to avoid impulse purchases.

The correct answer is "e. All of the above"

There are many strategies you can use to help you avoid making impulse purchases. Please visit the risky spending habits section to read about strategies to avoid impulse purchases.

The correct answer is "e. All of the above"

There are many strategies you can use to help you avoid making impulse purchases. Please visit the risky spending habits section to read about strategies to avoid impulse purchases.

The correct answer is "e. All of the above"

There are many strategies you can use to help you avoid making impulse purchases. Please visit the risky spending habits section to read about strategies to avoid impulse purchases.

The correct answer is "e. Accepting the potential long-term consequences for the short-term convenience."

Steve must perform a series of tasks before making the decision to purchase a car. One of the biggest considerations of buying a new car is the loan agreement. If Steve accepts a long-term loan agreement, he might be able to enjoy the short-term benefits of the vehicle but this could also cause him to pay more interest over the term of the loan and this could result in your car being worth less than the amount you owe on your loan, therefore causing a “negative equity” risk.

The correct answer is "e. Accepting the potential long-term consequences for the short-term convenience."

Steve must perform a series of tasks before making the decision to purchase a car. One of the biggest considerations of buying a new car is the loan agreement. If Steve accepts a long-term loan agreement, he might be able to enjoy the short-term benefits of the vehicle but this could also cause him to pay more interest over the term of the loan and this could result in your car being worth less than the amount you owe on your loan, therefore causing a “negative equity” risk.

The correct answer is "e. Accepting the potential long-term consequences for the short-term convenience."

Steve must perform a series of tasks before making the decision to purchase a car. One of the biggest considerations of buying a new car is the loan agreement. If Steve accepts a long-term loan agreement, he might be able to enjoy the short-term benefits of the vehicle but this could also cause him to pay more interest over the term of the loan and this could result in your car being worth less than the amount you owe on your loan, therefore causing a “negative equity” risk.

The correct answer is "e. Accepting the potential long-term consequences for the short-term convenience."

Steve must perform a series of tasks before making the decision to purchase a car. One of the biggest considerations of buying a new car is the loan agreement. If Steve accepts a long-term loan agreement, he might be able to enjoy the short-term benefits of the vehicle but this could also cause him to pay more interest over the term of the loan and this could result in your car being worth less than the amount you owe on your loan, therefore causing a “negative equity” risk.

The correct answer is "c. It allows people to overspend."

If credit is not used responsibly, it will pose a risk to your financial well-being. Overspending using credit can become a serious financial problem. Overspending using credit is very risky because you might not be able to afford your credit card payments. Please visit the section on impact on spending when using credit to read about the risks of credit.

The correct answer is "c. It allows people to overspend."

If credit is not used responsibly, it will pose a risk to your financial well-being. Overspending using credit can become a serious financial problem. Overspending using credit is very risky because you might not be able to afford your credit card payments. Please visit the section on impact on spending when using credit to read about the risks of credit.

The correct answer is "c. It allows people to overspend."

If credit is not used responsibly, it will pose a risk to your financial well-being. Overspending using credit can become a serious financial problem. Overspending using credit is very risky because you might not be able to afford your credit card payments. Please visit the section on impact on spending when using credit to read about the risks of credit.

The correct answer is "c. It allows people to overspend."

If credit is not used responsibly, it will pose a risk to your financial well-being. Overspending using credit can become a serious financial problem. Overspending using credit is very risky because you might not be able to afford your credit card payments. Please visit the section on impact on spending when using credit to read about the risks of credit.