Immediate vs. delayed rewards?

Immediate activate both systems

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Financial Literacy 10 Midterm Review

19 termsStudBud Administration

Explore essential concepts and strategies for managing your finances and making smart financial decisions

Flashcards19 cardsFPractice quizPHost liveL

Questions 19

Answers

1
Who wants you to save money?
Friends and family
Retail stores
The government
Future self and advisor
2
Banks and lending?
Lend to those in need
Credit pushers
Never make mistakes
Protect borrowers
3
Credit cards vs. cash?
Pain of spending reduced
Spend more consciously
Budgeting easier
Savings increase
4
Repeated exposure leads to...
Value it more
Spend more
Declining utility
Save more money
5
Immediate vs. delayed rewards?
Affect brain equally
Immediate activate both systems
Neither significant
Delayed more exciting
6
Major problem with credit cards?
Difficult to qualify
Easy to overspend
Not enough rewards
High annual fees
7
Damaging misconception in finance?
Saving sacrifices enjoyment
Budgeting unnecessary
Credit cards always bad
Investing too risky
8
DY in macroeconomic formula DY = C + S?
Daily Income
Disposable Income
Daily Yield
Disposable Yield
9
Key to successful financial planning?
Spending less
Investing in stocks
High-paying job
Using credit wisely
10
Living within your means?
Impossible today
Complete lifestyle changes
Small adjustments
Matters after retirement
11
Credit cards reduce spending pain?
False
True
12
Lines of credit (LOCs) are...
Helpful and dangerous
Never to be used
For wealthy people
Better than credit cards
13
Status in modern society?
No longer important
Determined by wealth
Based on education
Based on character
14
Dealing with temptation?
Ignore completely
Always give in
Take away ability
Use credit freely
15
Teachers' spending habits?
Live within means
Spend more
Avoid saving money
Use credit cards more
16
Diderot effect on spending?
Leads to more purchases
Helps save money
Reduces spending
Conscious purchases
17
Dartmouth woman's LOC solution?
Limit LOC to $7,000
Freeze credit cards
Avoid credit completely
Use multiple cards
18
Savings rate increase from 6.25% spending cut?
175%
150%
100%
125%
19
Limit credit card use?
Use for emergencies
Leave at home
Cut up cards
Unlimited credit limits

Financial Literacy 10 Midterm Review Flashcards | StudBud

Financial Literacy 10 Midterm Review

19 termsStudBud Administration

Explore essential concepts and strategies for managing your finances and making smart financial decisions

Flashcards19 cardsFPractice quizPHost liveL

Questions 19

Answers

1
Who wants you to save money?
Friends and family
Retail stores
The government
Future self and advisor
2
Banks and lending?
Lend to those in need
Credit pushers
Never make mistakes
Protect borrowers
3
Credit cards vs. cash?
Pain of spending reduced
Spend more consciously
Budgeting easier
Savings increase
4
Repeated exposure leads to...
Value it more
Spend more
Declining utility
Save more money
5
Immediate vs. delayed rewards?
Affect brain equally
Immediate activate both systems
Neither significant
Delayed more exciting
6
Major problem with credit cards?
Difficult to qualify
Easy to overspend
Not enough rewards
High annual fees
7
Damaging misconception in finance?
Saving sacrifices enjoyment
Budgeting unnecessary
Credit cards always bad
Investing too risky
8
DY in macroeconomic formula DY = C + S?
Daily Income
Disposable Income
Daily Yield
Disposable Yield
9
Key to successful financial planning?
Spending less
Investing in stocks
High-paying job
Using credit wisely
10
Living within your means?
Impossible today
Complete lifestyle changes
Small adjustments
Matters after retirement
11
Credit cards reduce spending pain?
False
True
12
Lines of credit (LOCs) are...
Helpful and dangerous
Never to be used
For wealthy people
Better than credit cards
13
Status in modern society?
No longer important
Determined by wealth
Based on education
Based on character
14
Dealing with temptation?
Ignore completely
Always give in
Take away ability
Use credit freely
15
Teachers' spending habits?
Live within means
Spend more
Avoid saving money
Use credit cards more
16
Diderot effect on spending?
Leads to more purchases
Helps save money
Reduces spending
Conscious purchases
17
Dartmouth woman's LOC solution?
Limit LOC to $7,000
Freeze credit cards
Avoid credit completely
Use multiple cards
18
Savings rate increase from 6.25% spending cut?
175%
150%
100%
125%
19
Limit credit card use?
Use for emergencies
Leave at home
Cut up cards
Unlimited credit limits