Help
Options
Question
___% of americans are living paycheck to paycheck
click to flip
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't know
Question
when it comes to debt if you tell a lie or spread a _____ long enough eventually it becomes accepted as the ____
Remaining cards (62)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Dave Ramsey
Chapter 4
| Question | Answer |
|---|---|
| ___% of americans are living paycheck to paycheck | 70 |
| when it comes to debt if you tell a lie or spread a _____ long enough eventually it becomes accepted as the ____ | myth;truth |
| debt has been ___ to us with such intensity for so long that to imagine living without it requires a complete ___ shift, a completely new way of looking at things | marketed; paradigm |
| in 1919- in the sears catalog, credit was called ___ | folley |
| ___ didn't believe in debt and wouldnt allow it given in his stores. it wasn't until after his death in ____ that it was then accepted | J.C. Penney; 1971 |
| _____ hated debt and would not offer it on cars for __ years after General Motors began offering credit | Henry Ford of Ford Motor Company; 10 |
| birth of the credit card in ___ by ____ | 1950; Frank McNamara |
| McNamara's company ___ is still in business | Diners Club |
| in 1958 a west coast bank ___ issues a pice of plastic called ____ | Bank of America; BankAmericard |
| ___ was born in 1958 | American Express |
| in 1970 only __% of americans owned credit cards | 15 |
| in 1976 BankAmericard changed it's name to | VISA |
| in 1986 Sears got in a dispute with Visa and so they created the ____ | Discover Card |
| our ____ thought debt was a sin | great grandparents |
| our ____ thought it was stupid | grandparents |
| our ___ borrowed on a few things | parents |
| ___ borrow on everything | we |
| MYTH: If i ____ money to a friend or relative, I will be helping them | loan |
| TRUTH: the relationship will be strained or _____ | destroyed |
| MYTH: by ____ a loan, I am helping our a friend or relative | cosigning |
| TRUTH: the bank requires a cosigner because the person isn't likely to ____ | repay |
| MYTH: ____, rent-to-own, title pawning, and tote-the-note lots are needed ____ for lower income people to help them get ahead | cash advance; services |
| TRUTH; these are horrible, greedy ___ that aren't needed and don't benefit anyone but the owners of these companies | rip-offs |
| 80% of ____ in America are first-generation rich | millionaires |
| ___ for the cash sale of a new car | 82 |
| ____ for financing a new car | $755 |
| __ for leasing a new car | 1,300 |
| MYTH: the ___ and other forms of gambling will make me __ | lottery, rich |
| TRUTH: the lottery is a ____ and on people who can't do math | tax on the poor |
| people w/o High school diploma spent an average of ____ college graduates spend an average of __ a month on the lottery | 173, 49 |
| in lottery's it is always the lower-income ___ that generate the highest sales | ZIP codes |
| MYTH: ___ payments are a way of life and you'll always have one | car |
| TRUTH: staying away from car payment by driving reliable used cars is what the typical ___ does | millionaire |
| average car payment today | $464 per month over 64 months |
| MYTH: __ your car is what sophistaced financial peopel do | leasing |
| TRUTH: leasing your car is the most ___ way to finance and operate a vehicle | expensive |
| if you own a business you can ___ your paid-for car on taxes without paying payments for the privelege | write-off |
| the way to ___ the money lost on things that go down in value is to buy slightly ___ | minimize; used |
| MYTH: you can get a good deal on a ____ | new car |
| TRUTH: a new car loses __% of it's value in the first 4 years | 70 |
| MYTH: I'll take out a 30-year mortgage and pay __ | extra |
| TRUTH: never take out more than a __ year fixed-rate mortgage | 15 |
| MYTH: It's wise to take out an ___ or ___ mortgage if you know you will move | ARM, balloon |
| TRUTH: you will be moving when they ___ | foreclose |
| The adjustable rate mortgage is here to keep the ____ from losing money. It transfers the -_ of higher-interest rates to you | bank, risk |
| spending cash registers as | pain |
| MYTH: you need a ___ to rent a car or make ___ online or by phone | credit card, purchases |
| TRUTH: a __ card does all of that | debit |
| MYTH: i pay my ___ off every money with no annual payment or fee | credit card |
| TRUTH: when you use cash instead of plastic, you spend ___ less because spending cash hurts | 12-18% |
| ___ are a huge target of credit card companies today | teens |
| you don't go into ___ for emergencies | debt |
| debt consolidation is a | con |
| debt consolidation saves little or no __ becasue you will throw your low interest loans into the deal | interest |
| you cannot ___ your way our of debt | borrow |
| ___ payments equal more ___ in debt | smaller, time |
| the ___ is slave to the lender | borrower |
| 75% of the Forbes 400 say that becoming and staying __ free was #1 key to wealth building | debt |
| quit ___ more ___ | borrowing, money |
| you must __ money | save |
| ___ something | sell |
| part-time __ or ___ | job, overtime |
| use the ___ | debt snowball |
Created by:
laurenpole1