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
- Watch Video 2.1
- 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) .
- Discussion Questions:
- Explain why cosigning a loan for a friend or relative is never a good idea.
- What is predatory lending?
- Why are people drawn to predatory lending companies?
- Watch Video 2.2
- Discussion Questions:
- How does having a car payment stand in the way of building wealth?
- Besides payments, describe two additional ways you lose when buying a new car.
Assignment 4.2.2
- 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).
- Read and follow the instructions to complete it.
Assignment 4.2.3
- 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.