Financial Peace - Chapter 1 Review

Learning the language of money is not important for your financial future.

"Personal finance is 80% ________ & 20% ________.

Our great-grandparents did not normally use credit & thought it was embarrassing if you had to.

Since you are a teenage, what you do now with money will have little effect on your future.

The average student loan debt is...

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

Having debt keeps you from building wealth.

Personal financial success is primarily the result of:

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

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

Which is an example of a debt?

Expensive houses and new cars are a true indication of wealth.

A person who purchases goods or services for personal use.

In order to use someone else's money (i.e. credit card), you must pay them interest.

A debt evidenced by a "note."