Chapter 4 Packet

Question 1

According to the Wall Street Journal, ____ of Americans are living paycheck to paycheck

Answer 1

70%

Question 2

When it comes to debt, if you tell a lie or spread a ____ long enough, eventually it becomes accepted as the truth

Answer 2

Myth

Question 3

Debt has been ____ to us with such intensity for so long that to imagine living without it requires a complete ____ shift, a completely new way of looking at things.

Answer 3

Marketed

Paradigm

Question 4

Myth 1:
Myth- If I ____ loan money to a friend or relative, I will be helping them.

Truth- The relationship will be strained or ____.

Answer 4

Loan

Destroyed

Question 5

Myth 2:
Myth- By ____ a loan, I am helping out a friend or relative.

Truth- The bank requires a consigner because the person isn’t likely to ____. Be ready to pay the loan and have your credit damage.

Answer 5

Consigning

Re-pay