Money Matters Chapter 4 Semester Exam ReviewAuthor:
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0. Myth: it is wise to take out an ARM mortgage..
1. Most expensive way to finance a new car
2. Myth: You need a credit card to rent a car or buy stuff online
3. Myth: If I pay my credit card off every it%27s ok to use it
4. Type of mortgage that Dave recommends
5. Myth: The lottery will make you rich.
6. Myth: Leasing a car is what sophisticated people do
7. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15
8. Baby Step 2
9. A tax on the poor and people who can%27t do math
10. When using credit, one spends this much more
11. Myth: You can get a good deal on a new car.
12. Myth: Car payments are a way of life
13. A product agressively marketed to consumers
14. Living in today%27s society without debt requires this
15. Amount that Payday lending loans costs the consumer
0. Truth: They are horrible, greedy rip off-s that benefit owners
1. Truth: It is a tax on the poor and on people who can%27t do math
4. Truth: Driving a used car is what the typical millionaire does
5. Truth: A debit card will do all of that
6. Truth: Leasing is the most expensive way purchase a car
7. Debt consolidation
8. Paradigm shift
9. Truth: A new car loses 70%25 of its value in the first 4 years.
10. Staying debt free
11. Diner%27s Club
12. A reliable, used car.
13. Truth: You spend 12-18%25 more when you use credit
14. Quit borrowing money!
15. Fixed 15 year