TRIO Upward Bound Fall 2024 - Fin Lit So Far

What is a financial plan?

Financial flexibility is having enough money and assets to meet all of your present and future wants and needs

This is a term for achieving a sufficient level of knowledge and skill to make informed choices about money

What does the M in SMART Goals stand for?

Income is all money that you earn or receive—from sources such as work, investments, inheritances, and support programs

Which one is NOT a financial responsibility?

A self-employed person who does free-lance work on a contract basis— they are hired to complete a specific project

Which of these is NOT a risk of living paycheck to paycheck?

The act of setting aside money for future use instead of spending it is called

Having good financial habits is what helps a person reach their financial goals

Non-income aspects of an employee’s total compensation, which usually includes healthcare coverage and PTO

If you want to be a part owner in a company, you want to choose a company that offers equity as a benefit.

You should wait until you are older to start saving for retirement!

This is the final amount of money that you receive in a paycheck after all taxes and deductions have been taken out

This is a framework you create to plan what you do with your monthly income — including how much you spend and save

These include your rent or mortgage, grocery bills, utilities, loan payments, and other personal needs

These are specific, recurring behaviors and tendencies, that affect your finances and ability to achieve goals

An approach to saving that involves putting a portion of your income aside before spending it

Specified amount of money an employee makes, annually; does not depend on how much time the employee works

Your ability to make income from the work that you do is called: