Beware of Credit and Debt Review

Something that credit card commercials don't show you is:

• How great your life will be with payments

• People making payments for months or years on those credit card purchases

• How much your credit score will grow right away

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Making purchases with a credit card means that you're borrowing money with interest and ________________ pay much higher interest rates.

• Young people

• Rich people

• Old people

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When you finance a new car, you will end up paying more than the sticker price.

• True

• False

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While it may not always look like it, the majority of Americans live paycheck to paycheck.

• True

• False

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Your greatest tool to building wealth is ____________.

• Youre credit score

• Your income

• Tax cuts

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What is the 2nd Foundation?

• Build wealth and give

• Save a $500 emergency fund

• Get and stay out of debt

Credit card companies make the most profit from ____________.

• Incentive programs with banks

• Government tax breaks

• Charging interest to customers who only pay part of their monthly debt