Borrowing Money
What does it mean to borrow money?
What is To take money now and agree to pay it back later?
What is credit?
What is The ability to borrow money and pay it back later?
What is a credit card?
What is A card that lets you borrow money to buy things?
What is a repayment plan?
What is A plan for how and when you will pay money back?
What should you think about before lending money to a friend?
What is Whether they can pay it back?
Name one person you might borrow money from besides a bank.
What is A family member or friend?
What do you usually need in order to use credit?
What is A lender’s approval?
When you use a credit card, whose money are you spending?
What is The bank’s or card company’s money?
What is interest?
What is Extra money you pay for borrowing?
What is one way to help a friend without lending money?
What is Give advice, help them earn money, or help them budget?
What is one benefit of borrowing money from family or friends?
What is Lower or no interest, or more flexible repayment?
What does a lender do?
What is Gives money now and expects to be paid back later?
What happens if you don’t pay your credit card bill on time?
What is You may be charged extra money (interest or fees)?
If you borrow $100 and pay back $110, what is the $10?
What is Interest?
Why might someone not get money from family when they need it?
What is Family may not have extra money or may not trust repayment?
What is one risk of borrowing money from someone you care about?
What is It could hurt the relationship or cause arguments?
Why do people use credit instead of cash?
What is They don’t have enough money right now?
What is one smart rule when using a credit card?
What is Only buy what you can afford to pay back?
Why do lenders charge interest?
What is To make money for lending?
Why can borrowing money change friendships?
What is Because money problems can cause stress or arguments?
Why is it important to think carefully before borrowing money?
What is Because you must pay it back and it can affect trust and future choices?
What is one responsibility that comes with using credit?
What is Making payments on time?
Why can credit cards be dangerous if used incorrectly?
What is You can build up debt and owe much more than you spent?
Why is it smart to make a written repayment plan?
What is both people agree and know when payments are due?
What is one rule for being a responsible borrower?
What is Pay on time and borrow only what you need?