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Money Matters Chapter 4 Semester Exam Review

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Description:
Keywords: , , , , , , online teaching

Content:
Definitions:
0. A step to getting out of debt.
1. Myth: Home equity loan can be used for Emergency Fund
2. Myth: You need a credit card to rent a car or buy stuff online
3. A widely held, but mistaken belief
4. The best way to buy a car.
5. Number one target of credit card companies today
6. Myth: The lottery will make you rich.
7. The typical millionaire drives this type of car
8. The key to building wealth (according to millionaires)
9. Baby Step 2
10. Myth: Car payments are a way of life
11. Myth: it is wise to take out an ARM mortgage..
12. Myth: Payday companies are a service for the poor
13. Loan in which the equity in the home is used as collateral
14. Living in today%27s society without debt requires this
15. A product agressively marketed to consumers

Answers:
0. 400%25 or more annually
1. 12-18%25
2. depreciation
3. Paradigm shift
4. Lottery
5. Truth: Driving a used car is what the typical millionaire does
6. Truth: You spend 12-18%25 more when you use credit
7. Staying debt free
8. Truth: The relationship will be strained.
9. Truth: It is a tax on the poor and on people who can%27t do math
10. Truth: Don%27t go into debt for emergencies.
11. Truth: You will end up being responsible for the loan.
12. The debt snowball
13. Quit borrowing money!
14. debt
15. myth
.