chap 4 dave ramsey Word Scramble

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Question	Answer
according to the wall street journal ______ 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
1910: in the sears catalog, credit card was called ____	folly
_____ didnt believe in debt and would not allow credit to be given in his stores. It wasnt until after his death in 1971 that credit was widely accepted in ______ stores	jc penney jc penney
_________ hated debt and would not offer credit on cars for___ years after general motors began offering credit	henry ford, 10 years
established partenships with several new york city restraunts and his goal was to allow patrons the ability to pay for meals with a single payment card the first credit card	frank mcnamara
west coast bank of america issued a little piece of plastic called the _________ to its customers later that year ______ ______ was born	bankamericard; american express
in 1976, bankamericard changed its name to _____	visa
1970: only _____ of american owned credit cards	15%
myth 1 Myth: if i _____ money to a friend or relative, i will be helping them Truth: the relationship will be strained or ______	loan; destroyed
Myth2 Myth; by ______ a loan, i am helping out a friend or relative truth: the bank requires a cosigner becuase the person isnt likely to ____. be ready to pay the loan and have your credit damaged	cosign; repay
Myth 3 Myth: ________ _______ rent to own, title pawning , and tote the note lots are needed _______ for lower income people to help them get ahead truth: these are rip offs that arent needed and benefit no one but the ______ of these companies	cash advance; services; owners
80% of millionaires in america are first generation _____. that means they started out with nothing, did smart stuff, and become _____ thats the opposite of what were talking about here	rich; millionaires
myth 4 Myth: the _____ and other forms of gambling will make me ___ truth: the lottery is a ___ on the poor and on people who cant do math	lottery; rich; tax
texas tech university did a study on the texas lottery and found that people without a high school dimploma spent an average ____ a month playing the lottery.college graduates spen ____ a month on average	173; 49
Myth 5 Myth: ___ payments are a way of life and youll always have one Truth: staying away from car payments by driving reliable used cars is what the typical _______ does that is how they became millionaires	car; millionaire
the average car payment today is____ per month over 64 months	464
myth 6 myth: _____ you car is what sophisticated financial people do. you should always lease things that go down in value there are tax advantages truth: many reports will tell you that the car ____ is the most ___ way to finance and operate a vehicle	leasing, leasing, expensive
myth 7 myth: you can get a good deal on a ____ car truth: a new car loses ___ of its value in the first four years this is the largest purchase most consumers make that goes down in value	new, 70%
myth 8 myth: ill take out a 30year mortgage pay ___ truth: life happens and something else will always seem more important. never take out more than a ___ year fixed mortgage	extra, 15 year
it is cheaper in the long run to run a ____ _____ ______	15 year mortgage
Myth 9 myth: its wise to take out an ___ or a ____ mortgage if " i know ill be moving truth: you will be moving when they ___	ARM or balloon; foreclose
The adjustable rate mortgage is here to keep the ___ from losing money it transfers the ____ of higher interest rates to you	bank; risk
myth 10 myth: you need a ______ to rent a car or make ____ online or by phone truth: a ___ card does all that	credit card; purchases; debit card
myth 11 myth: i pay my ____ off every month with no annual payment or fee. i get brownie points, airm miles and a free hat truth: when you use cash instead of plastic you spend ____ less because spending cash hurts	credit card; 12-18%
myth 12 myth: ill make sure my ___ gets a credit card so he or she can learn to be responsible with money truth: teens are a huge _____ of credit card companies today	teenager; target
myth 13 myth: the home equity loan is good for _______ and is a substitute for the emergency fund truth: you dont go into ____ for emergencies	consolidation; debt
myth 14 myth: debt ____ saves interest and you get a smaller ____ truth: debt consolidaion is a _____	consolidaton; payments; con
you will stick to the same card forever	brand loyalty
debt consolidation saves little or no ____ because you will throw you low interest loans into the deal	interest
you cannot _____ your way out of debt	borrow
_______ payments equal more ___ in debt	smaller; time
myth 15 myth: debt is a ____ it should be used to create prosperity truth: the________ is slave to the lender	tool; borrower
when surveyed the forbes 400 were asked, what is the most important key to building wealth? ____ replied that becoming and staying ___ free was the nymber one key to wealth	75%; debt free
quit ____ more _____!	borrowing; money
you must ____ money	save
______ something	sell
part time ___ or ____ (temporarily)	job; overtime
use the ______ _________ it is where you list all your debts to pay them off	debt snowball
if you own a business you can _____ _____ your paid for car on taxes without paying payments for the privilege	ride off
the way to _______ the money lost on things that go down in value is to buy slightly _______	minimize; used
on average a $28,000 car will be worth what in four years?	$8,400
about _____ of college graduates have credit card debt before they get a job	80%

Created by: jackjack109