Money Matters Chapter 4 Semester Exam ReviewAuthor:
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0. When using credit, one spends this much more
1. Myth: it is wise to take out an ARM mortgage..
2. First charge card in the US
3. A tax on the poor and people who can%27t do math
4. Baby Step 2
5. A step to getting out of debt.
6. Amount that Payday lending loans costs the consumer
7. The best way to buy a car.
8. Myth: I am helping my friend if I loan them money.
9. Most expensive way to finance a new car
10. A widely held, but mistaken belief
11. Myth: You can get a good deal on a new car.
12. Myth: The lottery will make you rich.
13. Myth: If I pay my credit card off every it%27s ok to use it
14. Myth: By co-signing a loan, I am helping out a friend
15. Myth: Payday companies are a service for the poor
1. A reliable, used car.
2. Quit borrowing money!
3. 400%25 or more annually
5. Truth: Don%27t go into debt for emergencies.
7. The debt snowball
9. Truth: The relationship will be strained.
10. Truth: Leasing is the most expensive way purchase a car
12. Truth: A debit card will do all of that
13. Truth: A new car loses 70%25 of its value in the first 4 years.
14. Truth: You will be moving when they foreclose on you
15. Truth: You spend 12-18%25 more when you use credit