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Money Matters Chapter 4 Semester Exam ReviewAuthor:
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0. Amount that Payday lending loans costs the consumer
1. Myth: Home equity loan can be used for Emergency Fund
2. Myth: The lottery will make you rich.
3. Myth: You can get a good deal on a new car.
4. Loan in which the equity in the home is used as collateral
5. Most expensive way to finance a new car
6. Number one target of credit card companies today
7. A product agressively marketed to consumers
8. Myth: If I pay my credit card off every it%27s ok to use it
9. Myth: Car payments are a way of life
10. A tax on the poor and people who can%27t do math
11. First charge card in the US
12. Mortgage loans where the interest rate is adjusted
13. Type of mortgage that Dave recommends
14. The key to building wealth (according to millionaires)
15. When using credit, one spends this much more
0. Truth: The relationship will be strained.
1. Truth: Life happens and something else will be more impt.
4. Truth: They are horrible, greedy rip off-s that benefit owners
5. Debt consolidation
6. Home Equity Loan
7. A reliable, used car.
8. Staying debt free
11. Truth: Leasing is the most expensive way purchase a car
12. Truth: You spend 12-18%25 more when you use credit
13. Purchase a used (two years or older) car.
14. Truth: A debit card will do all of that
15. Fixed 15 year