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Personal Finance: Money Myths or Truths Flashcards | StudBud
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Personal Finance: Money Myths or Truths
Personal Finance: Money Myths or Truths
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Personal finance money myths and truths #personalfinance #moneymyths #moneymanagement
Flashcards
22 cards
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Questions
22
Answers
1
The balance shown on my ATM receipt is how much money I have left in my account.
Myth
Truth
2
All adults need life insurance.
Myth
Truth
3
You don't have to have a lot of money to make more money.
Myth
Truth
4
Having lots of credit cards show that you are an important person.
Truth
Myth
5
It's too risky to invest your money.
Truth
Myth
6
Car insurance usually costs less for female teens than male teens.
Truth
Myth
7
There are checks in my checkbook so there must be money in the checking account.
Truth
Myth
8
You should borrow the most money offered to you.
Truth
Myth
9
Having a lot of money will guarantee a person's sense of well-being, happiness, or respect.
Truth
Myth
10
Paying the minimum on a credit card bill is a good money management practice.
Truth
Myth
11
Student loans are the only option to finance your college education.
Myth
Truth
12
An occasional missed credit card payment won't hurt my credit record.
Truth
Myth
13
Money is the #1 subject of marital quarrels and is one of the main reasons for divorce.
Myth
Truth
14
Buying a used car is just inheriting someone else's problem.
Myth
Truth
15
Investing money in the stock market is too risky. A savings account would be a better place.
Truth
Myth
16
Most millionaires made their money by winning the lottery.
Myth
Truth
17
You should wait until after college to start a retirement plan.
Truth
Myth
18
Everyone should save 10-15% of their salary for retirement.
Myth
Truth
19
In the grocery store the food displays at the end of the aisles are the best buys.
Myth
Truth
20
Leasing an automobile is cheaper than buying.
Truth
Myth
21
A person should keep 3 to 6 months' worth of living expenses in an emergency fund.
Truth
Myth
22
Research has proven there is a direct link between personal self-worth and money.
Truth
Myth
