imparfait vs passe compose

Question

I struggle with when to use the imparfait. Why in the quizlet question "In 2004 I had money" was the correct answer "j'avais" rather than j'ai eu? It seems like this is a completed action in the past, not on-going? I get so confused...help!

Cécile Janty-Davies · Accepted Answer

Don't worry Jennifer, this catches out many students.
With a verb like 'avoir' which is a verb of state and by excellence indicates duration, for it to be a completed action, you would have to have something indicating that this is no longer the case -
En 2004, j'ai eu de l'argent mais malheureusement je suis fauchée à l'heure actuelle = In 2004, I had money but unfortunately I am broke at the present time.
Look at this video ( suggested by Maarten), which he found useful for tackling this problem.
The example towards the end, about 'vivre à Bordeaux' is particularly relevant.
https://www.youtube.com/watch?v=3rpQ5xeFneg
 I hope it helps!