Which Is an Indication of Financial Wellness

question 16

Multiple Choice

Which is an indication of financial wellness?

• A) having many credit cards
• B) controlling one's use of credit cards
• C) maintaining a high debt
• D) investing instead of saving

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Definitions:

Exchange Rate

The amount one currency is valued at when converting to a different one.

Interest

The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.

Loan

A financial arrangement where one party lends an asset, usually money, to another party under the condition of eventual repayment of the principal amount along with interest or charges.

Foreign Exchange Fluctuations

Variations in the value of one currency relative to another, impacting international trade and investments.