Beware of Credit and Debt
Credit card companies make the most profit from _____________.
What is charging interest to customers who only pay part of their monthly debt.
A home is an example of a(n)
What is an appreciating asset?
Young people pay __________ interest rates
What are higher?
When you finance a new car, you will end up paying ________ than the sticker price.
What is more?
The Second Foundation is...
What is get out and stay out of debt?
Your greatest tool to building wealth is...
What is your income?
Predatory lenders get their negative reputation from..
What is charging high fees for loans and targeting desperate people?
When you buy with credit, you typically spend __________ than you would with cash or a debit card.
What is more?
The smartest way to buy a car is to...
What is pay for it in cash?
The best way to avoid falling into debt is...
What is only buy things that you can purchase with cash?
Credit isn't a wealth building tool, it's a business that makes money for...
What are credit card companies, banks, and lenders?
___________ require the borrower to put up collateral for the loan.
What are secured loans?
Credit card companies charge 2-3% fee for every purchase made with credit cards. This is called a(n)...
What is a merchant fee?
Leasing a car is a method financing where someone ___________.
What is makes monthly payments on but does not own the vehicle?
The debt snowball method involves...
What is paying off debts from smallest to largest?
Something that credit card commercials don't show you is...
Who are people making payments for months or years on those credit card purchases
A car is an example of a ______________.
What is a depreciating asset?
When looking over your credit report, it's important to make sure...
What is no lines of credit have been opened under your name without your knowledge?
Car lease agreements come with a stipulation that you must pay a penalty if you...
What is go over the pre-established mileage cap?
78% of Americans live _________________.
What is paycheck to paycheck?
Credit Cards that offer flashy rewards like airline miles often...
What is can't be used for personal expenses?
Most homes increase in value over time. This produces __________.
What is equity?
Once you turn 18, you should regularly check your credit report....
What is for errors or signs of identity fraud?
The __________ is the total amount of the car loan, plus taxes and fees.
What is Principal?
How you spend and give your money...
What is a reflection of your personal values?