Personal Finance Chapter 1

A person or organization that uses a product or service.

A system by which goods and services are produced and distributed.

The knowledge and skill set necessary to manage finances effectively.

This is a picture of

Which of the following is NOT a key component of financial planning?

Once you know your money personality, you can develop a financial plan that works for you.

All of the decisions and activities of an individual or family regarding their money.

As a teenager, what you do now with money will have little effect on your financial future

Borrowing became "normal" in the US

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

Dave Ramsey had to file bankruptcy about 20 years ago.

When it comes to managing money, success is about _____% knowledge and _____% behavior.

Learning the ____ of money can help you understand bankers financial planners & insurance agent

Money math is easy. It's controlling you ______ that's the real challenge.

It's more important that you understand personal finance concepts if you make a lot of money.

An obligation of repayment owed by one party to a second party.

Why was the use of credit uncommon in the US prior to 1917?

To become "money smart," the first thing you must do is

Making a money plan usually involves ONLY setting long term goals.

Which of the following is a consequence of spending more than you make?