Question

making purchases with a credit card means that youre borrowing money, paying interest, and ______ pay much higher interest rates.
young people
rich people
old people
college graduates

1. banks and lenders use credit scores to determine...

the likelihood that someone is able to repay debt
how much collateral someone has available to put up for a loan
a persons financial responsibility
how successful someone is

1. your greatest tool to building wealth is ____________.

tax cuts
single stocks
your income
your credit score

1. what is the second foundation?

get out and stay out of debt
save a $500 emergency fund.
pay cash for your car.
build wealth and give.

Explanation:

• For the first question, young people may have less - established credit histories and financial stability, often resulting in higher interest rates on credit card borrowing.
• For the second question, credit scores are used by banks and lenders to assess the likelihood of debt repayment.
• For the third question, income is the primary source for building wealth as it provides the funds for savings, investments, etc.
• For the fourth question, getting out and staying out of debt is a fundamental step in financial stability and wealth - building, often considered a key foundation.

Answer:

1. Young people
2. The likelihood that someone is able to repay debt
3. Your income
4. Get out and stay out of debt