- Budget Challenge
- EverFi
Intro to Debt:
- Watch Video 2.3 "Dubunking the Credit Myths"
- take notes as you watch (pretend you're the teacher)
- Don't Lease a Car
- most expensive way to "own" a car
- dealer makes $1,300 per new car they lease
- 78% of people who drive off luxury car lot, use a lease to drive a car that they can't afford
- Don't Finance a Car
- if you have to finance it, you can't afford it
- dealer makes $775 when they finance a new car
- dealer makes $82 per new car they sell for cash
- Don't buy a New Car
- loses 70% of it's value in first 4 years
- $28,000 car is worth $8,400 after 4 years
- $408 depreciation each month over first 4 years
- "the worst car accidents happen on the showroom floor"
- buy a used car
- New car purchases are the cause of a lot of financial problems
- Selling the car is the solution to a lot of financial problems
- Have nice things, but don't let the things have you
- delayed gratification
- short-term sacrifice, for long-term gain
- a little struggle now, provides financial freedom for the rest of your life
- or spend freely now and struggle for the rest of your life
- It's your choice!
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