Introduction to Personal Finance Quiz Review

What is the suggested savings rate? And what (on average) is the typical savings rate of most Americans?

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

All of the decisions an individual makes regarding their money.

Learning to manage money isn't that important-you will be able to depend on financial planners.

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

The Five Foundations provide a simple ______________ to help you win with money.

What is the approximate percentage of Americans who are living paycheck to paycheck?

Which of the following is NOT a reason credit is marketed heavily to U.S. consumers?

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

The total student loan debt owed in the U.S. is currently about how muich?

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

A person or organization that buys/uses goods or services

The two measures of wealth are: income and _______________

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

A debt evidenced by a "note" which specifies the principal, interest, and repayment date.

The first foundation is to save _____________ for an emergency fund.

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