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by Joe Calhoun

Two segments: (1) I hope that car salesman doesn't get in trouble with his boss for telling Beth the "big secret" – that new cars depreciate thousands of dollars the moment you drive them off the lot; (2) Are you in the market for a car? Want to know a "secret" about cars? New cars depreciate thousands of dollars the moment you drive them off the lot. A lot of people get into financial trouble by constantly spending more than they earn. Credit is readily available today. That's both good and bad. It's good because credit can enhance your ability to undertake attractive investments such as a college education or a home. But borrowing can be bad if you borrow to buy things that will soon be of little value, use student loans to go on spring break, or max out credit cards only to pay the minimum amount due. When you recklessly spend more than you earn, your financial anxiety will build as your wealth declines and you make large interest payments on items you've already consumed.


Two segments: (1) Beth queries the car salesman about the useful life of a car and the maintenance cost; (2) Professor Macy explains the key points in Module 13 about how to finance wisely.

from Module 13 Slice of Life, Module 13 Professor explanation; combination (2014)
Creator: Certell Inc & the Florida State University Stavros Center for Economic Education
Posted by Joe Calhoun