11. comparing expenses to a monthly budget can help ensure a budget is being followed and highlight expenses…

11. comparing expenses to a monthly budget can help ensure a budget is being followed and highlight expenses that need to be added to the budget. true false\n12. budgets should include insurance protection to cover unexpected expenses from loss or damage to a vehicle, home, health or life. true false\n13. a major cost associated with using credit is the interest - the longer money is borrowed, the more it costs. true false\n14. if a borrower cannot pay on a secured loan, the creditor may be able to take the collateral, such as a car, motorcycle, or a home. true false\n15. public resources, like the federal trade commissions website, can provide information on how consumers can dispute credit card charges. true false\n16. renting or leasing a house is not considered an alternative to borrowing on credit. true false\n17. only a few states have laws and public or private agencies, that can educate consumers about their financial rights. true false\n18. what caused you to file for bankruptcy? (check all that apply) loss of employment (unemployed, working fewer hours, or spouse out of a job) divorce or other family problems death of a spouse, partner, or other family member health problems / medical bills

11. comparing expenses to a monthly budget can help ensure a budget is being followed and highlight expenses that need to be added to the budget. true false\n12. budgets should include insurance protection to cover unexpected expenses from loss or damage to a vehicle, home, health or life. true false\n13. a major cost associated with using credit is the interest - the longer money is borrowed, the more it costs. true false\n14. if a borrower cannot pay on a secured loan, the creditor may be able to take the collateral, such as a car, motorcycle, or a home. true false\n15. public resources, like the federal trade commissions website, can provide information on how consumers can dispute credit card charges. true false\n16. renting or leasing a house is not considered an alternative to borrowing on credit. true false\n17. only a few states have laws and public or private agencies, that can educate consumers about their financial rights. true false\n18. what caused you to file for bankruptcy? (check all that apply) loss of employment (unemployed, working fewer hours, or spouse out of a job) divorce or other family problems death of a spouse, partner, or other family member health problems / medical bills

Answer

Brief Explanations:

  1. Comparing helps with budget - following and identifying needed expenses.
  2. Insurance protects from unexpected losses in budgets.
  3. Interest is a major credit cost, more with longer borrowing.
  4. Creditors can take collateral for unpaid secured loans.
  5. FTC website offers credit - dispute info.
  6. Renting/leasing is an alternative to credit - borrowing.
  7. Many states have resources for consumer financial education.
  8. All listed can cause bankruptcy.

Answer:

  1. True
  2. True
  3. True
  4. True
  5. True
  6. False
  7. False
  8. Loss of employment (unemployed, working fewer hours, or spouse out of a job), Divorce or other family problems, Death of a spouse, partner, or other family member, Health problems / medical bills