Ramsey chapter 4 lesson 2 game

2. every time you spend with credit you add to this
4. something owned (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender
6. a loan for a fixed amount of money that‘s paid back in monthly installments
7. 80% of Americans have this type of payment
9. a legal claim against (or right to own) an asset until the debt (loan) is repaid
11. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
13. an asset that increases in value over time
15. the lender doesn’t require you to put down a security deposit or collateral

1. you have to put down a security deposit or use something as collateral.
3. credit that automatically renews whenever a payment is made to reduce the debt
5. a loan that typically takes 15-30 years to pay off; for a house
8. an asset that loses value over time, such as a car that’s worth less every year
10. often come with higher rates a fees
12. failure to repay a loan on time
14. a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash