Chapter 1 Test Review

Without any debt, you can be outrageously _______.

As a single adult, you should . . .

Savers have a tendency to be . . .

To know your net worth, subtract your liabilities from your _____.

Your money personality impacts . . .

Being a spender has many more positives than being a saver.

What are The Five Foundations?

What is The Fifth Foundation?

What does living paycheck to paycheck mean?

A money principle to keep in mind is to live on _______ you make.

After World War I, the demand for products increased, people began getting credit w/o loan sharks. Because of this...

To gain an understanding of your personal finances, you should know . . .

If your assets total more than your liabilities, you will have a(n) _____ net worth.

Personal finance is 20% _______ and 80% _______.

When you set financial goals, they should be . . .

You are either only a natural saver or a natural spender. You cannot have a balance of both.

Personal finance is the financial decisions a must make in order to earn, budget, save, spend, give money over time.

An important money principle to consider is that you should _____ and _____ your money.

You should always make sure you have a…

In 1972, what association made borrowing money to attend college much easier than it had been?

What is the best way to avoid running out of money too quickly?

Making the right choices with your money—managing your money—involves knowing how . . .

Avoiding debt can lead to financial peace and hope for the future.

Using credit has not always been a socially accepted practice, but it has become . . .

Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal.

"What was the purpose of Franklin D. Roosevelt's New Deal during the Great Depression?"

What is The First Foundation?

What is financial literacy?

A _____ financial goal takes up to two years to reach.

It is possible to pay for college with cash.