5 business question on budget and credit

Personal Financial Planning BUSI3013A:

Assignment #1. Budgeting and Credit: Due Monday Oct 5th by Noon.

Be as detailed as possible while limiting total assignment to maximum of 4 pages.

#1. With an example discuss how “negative equity” occurs on a vehicle loan and what can be done to reduce the risk of it happening.

#2. Identify 3 steps you can take to build or improve your credit score AND 3 actions you want to avoid as they would hurt your credit score.

#3. Discuss the pros and cons of using a credit cards versus a debit card as it relates to personal budgeting.

#4. Compare and contrast how a Line of Credit works versus a traditional term loan.

#5. When it comes to housing what are major factors to consider in deciding whether to rent or buy your place to live.