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Money Matters Chapter 4 Semester Exam Review

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Keywords: , , , , , , online teaching

Content:
Definitions:
0. Type of mortgage that Dave recommends
1. Number one target of credit card companies today
2. Mortgage loans where the interest rate is adjusted
3. Myth: Leasing a car is what sophisticated people do
4. Myth: If I pay my credit card off every it%27s ok to use it
5. A step to getting out of debt.
6. Myth: The lottery will make you rich.
7. Use this to help get you out of debt!
8. Baby Step 2
9. Most expensive way to finance a new car
10. Myth: it is wise to take out an ARM mortgage..
11. Myth: You can get a good deal on a new car.
12. A tax on the poor and people who can%27t do math
13. The key to building wealth (according to millionaires)
14. Myth: I%27ll take out a 30 year mortgage %26 pay it like a 15
15. A product agressively marketed to consumers

Answers:
0. Truth: Don%27t go into debt for emergencies.
1. depreciation
2. 400%25 or more annually
3. Gazelle Intensity
4. Truth: The relationship will be strained.
5. Truth: It is a tax on the poor and on people who can%27t do math
6. leasing
7. Debt consolidation
8. Truth: You spend 12-18%25 more when you use credit
9. Paradigm shift
10. Truth: A debit card will do all of that
11. Truth: Life happens and something else will be more impt.
12. Diner%27s Club
13. Staying debt free
14. Truth: They are horrible, greedy rip off-s that benefit owners
15. Purchase a used (two years or older) car.
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