Foundations in Personal Finance 4:2

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

• End up rich

• Stay poor for the rest of your life

• Bounce back and forth between wealthy and broke

• Do nothing

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

• True

• False

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

• True

• False

What percentage of millionaires started with nothing?

• 0%

• 80%

• 10%

• 25%

Opportunity:

• Abounds everywhere

• Only appears to the rich

• Is something that has to be earned

• • Is an inheritance that has to be passed down

The average car payment in the USA today is:

• $103 a month

• $464 a month

• $58 a month

• $1216 a month

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

• You should sit down and talk to them about options

• It doesn't matter -- it's not your money

• That should concern you, but they're the adult

• You should drive more recklessly

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

• True

• False

Most millionaires have become millionaires by:

• Playing the lottery

• Inheriting their fortune

• Buying and paying cash for used cars

• Stealing from the poor

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

• A car lease

• Paying cash for a car

• Taking out a car loan

• Borrowing the car from a friend