Financial Literacy Flashcards

1

How do you increase Cash Flow?

Spend Less Earn More
Spend More
Increase Debt
Use Credit Card

2

What is the minimum % of your monthly income should you save?

5%
10%
25%
20%

3

There are _______ Building Blocks to build a Financial House

2
5
4
3

4

Asset - _________ = Net Worth

Claim
Liabilities
Liquid Cash
Monetary Value

5

What should be your Monthly Cash Flow be?

Fixed
Negative
Positive
Variable

6

Envelope Budgeting is

Mail the envelope with cash
Carry cash in an envelope
$100 envelope challenge
Method of managing money

7

What will $200 of monthly saving at 10% annually in 20 years?

$408,443
$142,215
$308,557
$39,573

8

How many categories of Debt did we discuss?

2
6
4
3

9

How should you build a Financial House?

From Ground Up
From Up to Ground
Right to Left
Left to Right

10

If you just won the lottery, what's the first thing you would do with the money?

Buy Real Estate
Pay of Debt/s
Invest in Stocks
"Buy things we don't need to impress people we don't like.”

11

What is the standard APR for credit card?

24.99%
19.99%
22.99%
9.99%

12

What is 30% of your income comprises of?

Wants
Needs
Cash
Savings

13

Credit Card Debt falls under the category of?

Good
Ugly
Bad
Awesome

14

What is Debt Avalanche?

Debt avalanche coming down a slope
Pay the debt with the highest interest rates.
Paying off the smallest of all your Debts.
A snowslide of Debt

15

What is the 2nd Build Block in building a Financial House?

Protection
Emergency Fund
Debt Management
Investment

Financial Literacy

Questions 15

Financial Literacy

Questions 15