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False because the less you pay the longer it takes to pay it off. False because it makes your debt bigger. True because you pay more faster. True you get out of debt faster.
 * Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples.
 * The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples.
 * Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples.
 * You should pay off your credit card bill every month? True or False. Justify your answer with examples.


 * discretionary spending- Another term for wants
 * net worth- amount left when you subtract what you owe from what you own.
 * giving- another way to use your money by donating.
 * savvy shopping- deciding whether an item is a luxury or not.
 * budget- a set amount of money to spend.
 * debt- Money owed to someone
 * credit card pros and cons- pro is instant gratification and a con is too convenient.
 * debit card pros and cons- pro is accepted nearly everywhere con is fees.
 * borrow and down payment- borrowing is getting money then having to pay it back.
 * APR- Annual percentage rate.
 * credit score- like a grad point average for your money life.
 * public and private colleges- private colleges are colleges open to all people and cost a good amount. Private colleges cost almost more than double that amount.

=**Questions:**=


 * 1) =Why do people use credit cards?=
 * 2) =What are advantages and disadvantages of credit cards?=
 * 3) =What do the following terms mean? credit card, principal, APR, simple interest, compound interest, monthly payments=
 * 4) =How can understanding the math calculations for the principal, APR, simple and compound interest, and monthly payments of credit card debt affect your overall financial situation in the future?=
 * 5) =What is the most important idea you have learned from this lesson?=