Ch.4 debt quizzes for final ( Ramsey)

Debt is a wise financial choice because of the rewards you get back.

College students receive an average of four phone calls and five mailings each month encouraging them to:

Everything that's said on TV and by the media is true.

If you spread a myth long enough, what happens?

You get a new way of doing things from

The 1910 Sears Catalog said, "Buying on credit is the best thing you can do."

The birth of the credit card occurred around what year?

Debt has been marketed to us for so long, most people struggle to imagine life without it.

There may be occasional reasons to go into debt, like real emergencies.

You have to build credit to survive.

What myth do students believe about debt in college?

A cool looking car isn't necessary for school.

It's always better to just give family money rather than expect it back.

Loaning money to a friend or a relative is helping them.

Banks require a co-signer because they know:

What percentage of millionaires started with nothing?

Playing the lottery and other kinds of gambling will make you rich.

If you're poor and you do rich people stuff, like saving and budgeting, you'll

Cash advance, rent-to-own, title pawning, and payday lending are services to lower income people to help them get ahead.

Most millionaires have become millionaires by:

It is a myth that car payments are a way of life and you'll always have them.

If you drive a car that your parents have a loan on:

The average car payment in the USA today is:

opportunity:

Dave describes some people who incorrectly believe that a "Dave car" must be...

The most expensive way to finance and operate a vehicle is:

The questions of broke people are:

A new car loses about 70% of its value in the first 4 years.

The term "upside down" when it comes to cars means:

The car payment is the mantra of the ___________________

If you pay a $225,000 Mortgage at 6% for 15 years rather than 30 years, you'll save $143,874.

The first thing to go when life happens is

Never take out more than a ______________ fixed-rate mortgage.

It's a myth that you need a credit card to rent a car or make a purchase online.

You can do everything with a debit card that you can do with a credit card except:

You can run a debit card as a credit card to get the same protection as a credit card.

Consumers spend ______________ a year on credit card penalties and fees.

Teenagers and kids are now the ____________ target of credit card companies.

When McDonald's first went plastic, they saw that the average ticket order of $4.75 ______________ to ______________ .

Consumer Reports did a study that showed _____________ of airline miles are never redeemed.

When you pay cash rather than swiping a card, you spend _______________.

Debt can be occasionally used to create prosperity if you're careful.

According to 75% of the Forbes 400 list, the #1 key to wealth building is to:

If you want to win, find _____________ and mimic what they're doing.

A broke finance professor is like a:

Your largest wealth building tool is your:

If you're trying to help out parents who are struggling, the best place to start is with an attitude of ________________.

Statistics show that if a credit card company can be the first one to get their card in your hand, you'll __________________ for the rest of your life.

Kids are supposed to carry the burden of the household when it comes to debt.

You need to build up your credit to survive.

It's possible to not have a FICO score.

Thirty-five percent of how a FICO score is calculated is based on:

The FICO score is an "I Love Debt" score.

The Federal Fair Credit Reporting Act requires the credit bureau to remove any and all inaccuracies within ___________ of being notified.

About 80% of identities are stolen by people you know.

When a theft occurs, you are liable for all the money that an identify thief used

It takes the average consumer about _____________ hours to clean up the mess when their identity is stolen.