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Chapter 1 Review Flashcards | StudBud
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Chapter 1 Review
Chapter 1 Review
16 terms
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StudBud Administration
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This Quiz will review the learning objectives and material in Chapter 1.
Flashcards
16 cards
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Practice quiz
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Host live
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Questions
16
Answers
1
As a(n) _____, it's up to you to make choices about what you buy and use.
expense
consumer
liability
asset
2
Having a(n) _____ means the amount of your liabilities is larger than the value of your assets.
asset
positive net worth
negative net worth
credit
3
The percentage of Americans who are living paycheck to paycheck is almost . . .
60%
90%
70%
80%
4
Personal finance is 20% head knowledge about money. What‘s the other 80%?
Relationships
Experience
Behavior
Cash in the bank
5
_____ is a fee charged for using borrowed money for a purchase.
Net worth
Expense
Interest rate
Interest
6
When talking about personal finances, Dave Ramsey says, "You will either manage your money or the lack of it will...
drain your bank account."
always manage you."
not bother you."
concern your neighbor."
7
Almost half of all Americans report having less than _____ in savings.
$1,000
$5,000
$10,000
$500
8
_____ relates to all of the different money decisions you make each day.
Personal finance
Net worth
Interest
Net income
9
_____ means having the knowledge and skills to manage your personal finances.
Interest
Liability
Financial literacy
Personal finance
10
The Five Foundations provide a simple _____ to help you win with money.
Suggestion
Educational course
Action plan
Guide for investing
11
The total student loan debt owed in the U.S. is currently about how much?
$1.5 billion
$1.5 quadrillion
$1.5 trillion
$1.5 million
12
American culture and businesses have convinced consumers that using _____ is normal.
personal finance
credit
debt
financial literacy
13
When it comes to your money goals, in order to have clarity and a powerful reminder to keep you on track, you need to...
say them outloud.
remember them accurately.
write them down.
do nothing with them.
14
A(n) _____ is anything you own that has value.
expense
loan shark
asset
credit
15
Knowing your _____ is the starting point for a financial plan.
net income
interest rate
paycheck to paycheck
net worth
16
Living on less than you make means not . . .
Buying a car at 16 years old
Budgeting to eat out with friends
Going to college after high school
Spending all of your money
