Personal Finance - CH04: Open Qs

Explain why debt and credit are a bad idea. How could they negatively affect your life?

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What is the danger of putting up collateral for a loan?

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Explain why the importance of a good credit score is a myth.

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List three ways the credit card industry makes money off of customers.

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What is the difference between an appreciating asset and a depreciating asset? Give examples of both.

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Describe marketing tactics that the credit industry uses to trick people into getting into debt.

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Explain the Debt Snowball Method. How can it help you get out of debt?

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