Day 23

Lesson Objectives

  • Evaluate and refute the myths associated with debt.
  • Apply systematic decision-making to identify the most cost-effective option for purchasing a car.
  • Identify various types of mortgage loans and the most cost-effective option for purchasing a home.
  • Evaluate ways that debt can negatively affect your financial future and how to overcome personal debt. 

Assignment 4.2.1

  1. Watch Video 2.1
  2. As you watch the video, record the missing words from pages 79-81 of the textbook as they pop up on the left side of the video screen by filling in this form.  (pages 79-81) .
  3. Discussion Questions:
    1. Explain why cosigning a loan for a friend or relative is never a good idea.
    2. What is predatory lending?
    3. Why are people drawn to predatory lending companies?
  4. Watch Video 2.2
  5. Discussion Questions:
    1. How does having a car payment stand in the way of building wealth?
    2. Besides payments, describe two additional ways you lose when buying a new car.

Assignment 4.2.2

  1. Make a copy of this Google Document, Reality of Cash Advances, and move it into your Chapter 4 folder.  Name the file Reality of Cash Advances-(Your Initials).
  2. Read and follow the instructions to complete it.

Assignment 4.2.3

  1. In your Personal Finance Journal-C4 file in your Chapter 4 folder, complete the next two rows in the table by answering the question listed.