Loans
Are all loans the same
Are credit cards free money?
No but go wild champ ;)
Is a higher or lower interest rate better when borrowing?
Lower
Should you go off the lot
Yes
What does "Keeping up with the Jones's" mean?
Buying into fads to keep up with the times
What is it called when you decide to pay the loans later?
Deferment
Who should you not open a credit card with?
No name/Not credible business
Is a higher or lower score better when loaning?
Higher
What should you never do when negotiating?
Never tell them what monthly payment you need
What is the 50/30/20 Rule
Spend 50% on needs 30% on wants save 20%
Who should you never take loans from?
Loan Sharks
What is a benefit of credit cards?
Rewards, discounts and convenience
When you defer loans what actually happens?
You pay interest on loans you cant make so interest compounds
Who should do the math?
You
Does spending with credit fell the same as with cash?
No, you don't typically get the same perception.
What come from paying the principal amount down?
You pay less interest in the end and may even eliminate terms.
What entails a secured credit card?
Money must be deposited with issuer to open the account
How can you decrease the total amount of interest you pay?
Pay down the principal amount
Are car promotions always true?
No
Are you really saving money when you buy a new TV on sale?
No bruh you still spent money on it
In a 3 letter word what is amortization
FUN
Whats a normal interest rate for a credit card?
Around 16%
According to Einstein (blank) is the eighth wonder of the world.
Compound Interest
What is a virtue when car shopping/negotiating?
Patience
Whats a good reduce unnecessary spending.
Budget and track your purchases