Podcast
Questions and Answers
What is the biggest obstacle to achieving financial freedom?
What is the biggest obstacle to achieving financial freedom?
True or false:Overspending is a bigger problem than under earning.
True or false:Overspending is a bigger problem than under earning.
True
What is a bigger problem than under earning?
What is a bigger problem than under earning?
True or false: The average American has 5 to 6 credit cards with an average balance of $10,000 in credit card debt.
True or false: The average American has 5 to 6 credit cards with an average balance of $10,000 in credit card debt.
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What percentage of cardholders only make minimum monthly payments?
What percentage of cardholders only make minimum monthly payments?
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True or false: Paying only the minimum payment on credit cards can help people get out of debt.
True or false: Paying only the minimum payment on credit cards can help people get out of debt.
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Study Notes
- Credit card and consumer debt are the biggest obstacles to achieving financial freedom.
- Overspending is a bigger problem than under earning.
- Credit cards can tempt people to overspend and keep them in financial stress.
- Being credit card debt-free is a step towards achieving financial freedom.
- The average American has 2 to 3 credit cards with an average balance of $6,000 in credit card debt.
- 70% of cardholders only make minimum monthly payments.
- Paying only the minimum payment keeps people in financial entrapment.
- It's important to create a plan to pay off each credit card with an organized system.
- Use credit cards responsibly and pay them off at the end of each month to avoid interest payments.
- Jules will show how to start attacking debt and pay off car loans in the next module.
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Description
Test your knowledge on credit cards and debt management with this informative quiz! Learn about the biggest obstacles to achieving financial freedom and the dangers of overspending with credit cards. Discover the average American's credit card debt and the pitfalls of paying only the minimum monthly payment. Find out how to create an organized system to pay off each credit card and avoid interest payments. Join Jules in the next module to learn how to start attacking debt and pay off car loans. Take the quiz now and improve your financial literacy
