Question

1. making purchases with a credit card means that youre borrowing money with interest, and ______ pay much higher interest rates. young people rich people old people college graduates short answer use what youve learned in this chapter to answer these questions. 31. explain why debt and credit are a bad idea. how could they negatively affect your life?

Explanation:

1. Credit - card interest rates are often higher for those with less credit - history or lower credit - scores. Young people typically have less established credit, so they may pay higher rates.
2. Debt and credit can lead to financial stress due to interest payments and the obligation to repay. High levels of debt can limit future financial opportunities, such as getting a mortgage or starting a business, and can also cause emotional distress.

Answer:

1. Young people
2. Debt and credit can cause financial stress from interest and repayment obligations, limit future opportunities, and cause emotional distress.