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Explain What Is The Average Debt For Individuals 22-29

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1. What is the average debt for individuals 22-29?
The average debt for individuals 22-29 is $16,120.
2. Why is it important to think about "needs" and "wants"? What are the differences between these?
It is important to think about your “needs” and “wants”, because you have to manage your money so that you meet all of your basic needs before you start buying things that are not necessary for you to have to survive. Your “needs” are items that are important for you to have to survive like food, water, a house, and clothing. Your “wants” are things that you don’t need to survive like candy, expensive cars, expensive designer clothing, or anything that goes beyond what you need to survive.
3. What are the budget guidelines that the video gives for splitting up a paycheck? …show more content…

4. What are some things to keep in account when looking for a bank?
When you’re looking for a bank, you need to remember to look for things that are important to you, like interest rate, fees, no or low minimum balance, and a convenient location of the bank and any ATMs you may want to use.
5. What are some things to look for when choosing a credit card? What does the video suggest about credit cards?
When you’re choosing a credit card, you should remember to look for low interest rates, no annual fees, and no hidden penalties or charges.
6. What is a credit score?
A credit score is something used to show people how well you pay people back, or how you have done so in past experiences.
7. How is a CD different from a savings

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