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 4.2.10
- Watch Video 2.6
- As you watch the video, record the missing words from page 88 of the textbook as they pop up on the left side of the video screen by filling in this form. (pages 88) .
- Discussion Questions:
- What is the largest wealth-building tool?
- List the steps to get out of debt.
- What are some of the serious consequences of not repaying a debt?
Assignment 4.2.11
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Use a search engine to find a rent-to-own website. Rent-to-own businesses are often unscrupulous on the web just as they are in person, so it might take a bit to find a company.
You will find the total cost of the listed items if purchased at a rent-to-own store. Next, you will total the cost of the items if purchased in full with cash elsewhere. Finally, you will calculate the difference between the two methods of purchasing.
To complete this task, do the following:
- Make a copy of this document.
- Rename the file Rent2Own-(Your Initials) and place it in your Chapter 4 folder.
- Read the instructions and complete the assigned task as instructed.
Assignment 4.2.12
- In your Personal Finance Journal-C4 file in your Chapter 4 folder, complete the next row in the table by answering the question listed.