RENT OR BUY

Your rent payment should total no more than______ % of your take-home pay.

• 15

• 25

• 40

• 50

When you're ready to buy a house, the best option is a_________ loan.

• ADJUSTABLE RATE MORTGAGE

• HIGH INTEREST RATE

• FIXED INTEREST RATE

• SUPER BOWL

Renting is a great option for many people (True/False)

• TRUE

• FALSE

Making periodic payments to a landlord for the use of their property is called________?

• GREED

• UNFAIR

• FISHING

• RENT

What does cost of living refer to?

• HOW MUCH IT COST TO HAVE A BABY

• AMOUNT OF LIVING EXPENSES

• THE RATE OF RETURN ON EXERCISE

• THE ENERGY IT REQUIRES TO RUN A MACHINE

WHAT ARE the money principles?

• BUDGET

  SAVE

  STAY OUT OF DEBT

  GIVE

• SPEND

  GO INTO DEBT

  DON'T GIVE ANYTHING

• GET CREDIT CARDS

  FINANCE NEW CARS

  SPEND MORE THAN YOUR MAKE

• HAVE DEBT

  LIVE WITH YOUR PARENTS

  DRY NEW CARS

You should rent until you are able to_________?

• PUT DOWN 20% ON YOUR HOME

• TO HOLD DOWN A JOB

• PAY FOR A HOME IN CASH

What type of interest rate is locked in and won't change for the life of the loan?

• NONE OUT THERE

• FIXED RATE

• ADJUSTABLE

• SALLIE MAE

It's important to read your leasing contract because once you sign it, is enforceable by law

• TRUE

• FALSE

What is your mortgage principal

• THE TOTAL OF YOUR RENT PAYMENT

• IT IS THE principal, interest, taxes and insurance

• THE LADY WHO RUNS THE HIGH SCHOOL

• ALL THE MONEY IN YOUR SAVINGS ACCOUNT