If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.True or false: Mortgage loans are always considered bad debt because they take years to pay off.TrueFalseTo protect yourself from falling into debt, you should sock away enough money to last you through:Two weeks -- just long enough to find another job.One monthThree to six monthsA wise money motto is:Apply for store credit and you can always save 10 to 20 percent on store items.If you can't pay for it in cash and the item doesn't increase in value, you shouldn't buy it.Don't owe more than half your income and you can stay on top of debt. advertisementRelated Links:Inheritance: Save or pay off card debt?Invest or pay off credit card?4 ways to overcome a loss in income Related Articles:Debt settlement or pay up?Keep debt from biting kidsTop 10 causes of debt
If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.
True or false: Mortgage loans are always considered bad debt because they take years to pay off.
To protect yourself from falling into debt, you should sock away enough money to last you through:
A wise money motto is:
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.
Dear Debt Adviser, I have about $50,000 of debt on credit cards. My credit rating is still high. I am considering a debt consolidation loan. Will that adversely affect my credit rating? -- DT Dear DT, The cliche about... Read more