Finance Intro

When it comes to money, math is easy. What is challenging is managing your....

Which is a consequence of spending more than you make?

A Debt note that specifies principal, interest, and date of repayment.  

Having debt keeps you fro building wealth

Obligation of repayment owed by one party (debtor/borrower) to a second party (credit/lender)  

Managing money is _______% Behavior.  

Why was the use of credit uncommon prior to 1917?

Students should learn Personal Finance Because....

a person or organization that uses a product or service

Which is NOT a factor in becoming money smart?

A person or organization that buys/uses good or services.  

A debt with a "note," which specifies the principal amount, interest rate and date of repayment

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

A period of temporary economic decline

The granting of a loan and the creation of debt, any form of deferred payment

The Knowledge and skills necessary to be in a informed consumer and manage finances effectively

The credit system today uses high interest rates and fees to turn high profits

Expensive houses and cars are the best indication of wealth

All money decisions - spending, saving, budgeting etc

Learning the language of money is NOT important because you will hire a financial planner

Which of the following is NOT true?

Everyone should have the SAME financial plan

True Financial security is achieved when your money begins to generate an income

Most American's today are wealthy and will have financial security upon retirement

A person or business that offers loans at extremely high interest rates

A system by which goods and services are produced and distributed

It is important to understand your money personality (spender vs saver)

The system in which goods and services are produced and distributed.  

When it comes to managing money, success is ___% knowledge and ___% behavior

Your emergency fund and savings should be kept in a separate spot from your spending money

A Debt note that specifies principal, interest, and date of repayment.  

What you do now with money will have little effect on your financial future

A fee paid by a borrower to the lender for the use of borrowed money.  

Which of the following is NOT a reason credit is marketed heavily in the US?

The widespread financial insecurity of Americans is primarily because:

a fee paid by a borrower to the lender for the use of borrowed money

Key components of financial planning include everything BUT....

an obligation of repayment owed by one party to a second party

Personal Finance success is the result of

When developing a financial plan, the 1st thing you should do is assess your current situation