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Personal Finance - Ch. 10: Money & Relationships Flashcards | StudBud
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Personal Finance - Ch. 10: Money & Relationships
Personal Finance - Ch. 10: Money & Relationships
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#personal #finance
Flashcards
35 cards
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Practice quiz
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Questions
35
Answers
1
Discussing important financial matters with household members can reduce conflict
false
true
2
Since married people may be different, who should make the financial decisions when married?
the husband
the wife
they should each manage their own money
both spouses
3
Which of the following statements regarding marriage and money is
false
?
It is okay to hide purchases from your spouse
In a marriage you are financially accountable to one another
Managing finances in a marriage takes teamwork
When you agree on spending, you agree on value your system
4
A situation in which a person is lacking time, which leads to stress
self-esteem
free spirit
time poverty
schedule conflict
5
A person's priorities, beliefs, and standards that affect how he or she views the world
wealth building
value system
financial plan
honesty
6
Which of the following can be a challenge when managing money on your own as a young adult?
all of the above
Not keeping a written budget
Time poverty and fatigue
Impulse buying due to lack of an accountability partner
7
In a marriage you are financially accountable to each other
true
false
8
If you value security, you are more likely to:
make impulse buys
all of the above
save money
spend money
9
Which of the following is
not
a rule for the budget committee meeting?
meeting should go on for as long as it takes to make a plan
Decision making must be done by both people
Write a 0 based budget in which you spend a dollar on paper
The nerd should be the one to prepare the budget
10
A process by which information is exchanged between individuals
competition
communication
isolation
shouting
11
A written plan gives the single person empowerment, self accountability and control
false
true
12
The result of achievement toward which effort is directed
competition
time poverty
goal
isolation
13
Contractual agreement to rent property
mortgage
estate plan
application
lease
14
When married couples do not share goals and values in how they manage money what could happen?
stress
conflict
divorce
all of the above
15
If money
fights
are a problem in a marriage then money
management
will help improve marriage
true
false
16
A person who is picky about budgeting & details
Hippie Chick
Free Spirit
Slob
Nerd
17
According to a money survey, who are teens most likely to learn money management from?
real-life experience
school
siblings
parents
18
A great way for a young person to avoid making money mistakes is to:
let a parent manage their finances
realize that mistakes are unavoidable
seek advice from a trusted adult
it is unlikely that a young person will make money mistakes
19
You should communicate your money goals with your parents and others close to you because...
they can provide financial support in case you make mistakes
they can write your monthly budget
your goals are your goals.
it will allow others to help you
20
The flow of money in a family represents the _________ under which the family operates.
value system
security
income level
sophistication
21
Which of the following statements is
false
?
Being aware of your money will help you create a money plan
If you value spontaneity, you're likely to be a saver
It can be difficult to balance who you are with what you do
You should consider people's values when relating to $
22
It is easier to manage money when you are accountable to no one
false
true
23
When managing money one's value system is of no importance
true
false
24
Whether you agree with your parents or not regarding money you should respect and honor them
false
true
25
A confidence and satisfaction in oneself
self-esteem
money schedule
money personality
self-doubt
26
Communicating with others about money is entirely a matter of the other person listening to you
true
false
27
Communication, teamwork, & consistency are all important elements in handling family money
true
false
28
The state of being free from danger or threat
avoidance
isolation
security
communication
29
A person who thinks that everything will work out fine and typically hates to deal with details
honesty
Free Spirit
Accountant
Nerd
30
The quality or state of being responsible or liable
security
recipient
honesty
accountability
31
When communicating with your parents about money, you should
be honest
communicate your wants, needs, and money goals
be a good listener
all of the above
32
The goal in communicating with your parents about money is to become responsible & independent
true
false
33
The #1 cause of divorce in America is:
the in-laws
money fights
none of the above
religious differences
34
When it comes to communicating to others about money, you should not:
manipulate
listen
pick the right time and place
be honest
35
Cooperative and coordinated team effort on the part of a group
free spirit
teamwork
isolation
schedule conflict
