Renting 101
What is the monthly payment you make to a landlord to live in a rental property?
What is Rent?
You earn $2,000 a month and your expenses are $1,700. Can you afford a $200 pair of shoes this month?
Yes
What three-digit number is used to show how responsibly you have managed credit?
credit score
You sign a lease without reading it first. What renter mistake did you make?
By not reading the lease
You get your first paycheck and immediately spend all of it on clothes and food. Smart or Dumb
Dumb
What is the upfront payment a landlord may require to cover potential damage to the property?
security deposit
You make $2,500 a month. Your rent is $1,000, food is $400, transportation is $300, and other expenses are $600. Can you afford a $300 concert ticket?
No
What can happen to your credit score if you regularly pay your bills late?
credit score can decrease
You only budget for rent and forget about electricity, water, internet, and other costs. What mistake is this?
forgetting about additional expenses
You compare prices at different stores before buying something expensive. Smart or Dumb?
Smart
What document explains the rules, rent amount, and responsibilities of the tenant and landlord?
lease
You want a car that costs $450/month. You make $2,000/month, but your other monthly expenses are $1,700. Can you afford the car?
No
What is the amount of money you still owe on a credit card called?
balance
You move out without giving your landlord the notice required by your lease. What could happen?
losing part of your deposit or owing additional rent
You only make the minimum payment on your credit card every month. Smart or Dumb