The amount of money you spend to pay bills or for other needs and wants.

What is the main advantage to online banking.

The convenience of keeping track, or getting to your money from anywhere.

Why is a personal financial plan important?

It helps you determine your short and long-term financial goals.

Sums of money borrowed with interest.

Funds raised by companies through the sale of shares.

Define A Savings Account.

An account for depositing money that you want to keep.

What is one of the six steps for creating a personal financial plan?

Consider your current financial position.

The access to funds to cover a shot-term cash need.

The difference between the market value and the unpaid balance.

What is the FIRST Step to Smart Buying.

Separate your wants from your needs.

The price added on above what the dealer paid for the product.

Why is a budget important?

Following a budget will keep you out of debt.

Define Comparison Shopping.

Comparing the prices and quality of different items to see the better item.

Why is it important to keep a checkbook resister up-to-date and accurate?

It can prevent you from writing checks when you do not have the money.

studbud

LE 300 Chapter 1

20 termsStudBud Administration8 plays

Imported from external platform

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Define Expenses.
The amount of money you spend to pay bills or for other needs and wants.
A verify that your checkbook register balances.
What is earned or made available to you.
A list of transactions in your checking account over the month.
2
What is the main advantage to online banking.
Its better than offline banking.
You're already on your phone.
You don't have to see and talk to the bank clerks.
The convenience of keeping track, or getting to your money from anywhere.
3
You Should Always Go Food Shopping When You Are Hungry.
True
False
4
Why is a personal financial plan important?
Because your future depends on it.
To waste your money.
To keep track of time.
It helps you determine your short and long-term financial goals.
5
Is a Gaming System a Want or a Need?
Need.
Want.
6
Define Loans.
Sums of money borrowed with interest.
An offering to lend you money.
A written order to direct you bank to give you money.
A 24-hour system that will let you call your bank.
7
Define Stocks.
The management of your money.
Funds raised by companies through the sale of shares.
The amount of which you should not spend if you are to meet your goals.
Something of value to you.
8
Food Cost More When its in Season.
False
True
9
Define A Savings Account.
An account only reachable by means of a cellular device.
An account for depositing money that you want to keep.
An account into which you deposit money, and take money by means of checks.
This account will help you find an error in your checking account.
10
What is one of the six steps for creating a personal financial plan?
Consider your current financial position.
Learn more about a financial plan.
Manage your liquidity.
Take risk with the plan.
11
Define Liquidity.
Money.
Funds raised by companies through the sale of shares.
The access to funds to cover a shot-term cash need.
A charge on borrowed money.
12
Define Equity.
The difference between the market value and the unpaid balance.
A partial payment that you make when purchasing something.
The income after taxes and other deductions on monthly car payments.
Electricity, heat, gas, and water.
13
What are the Three Ps for Eating on a Budget?
Poultry, Pork, and Popular cuts of meat.
Plan, Purchase, and Prepare.
Pick, Prepare, and Prolong.
Pickup, Product, and Pre-cut.
14
What is the FIRST Step to Smart Buying.
Do your research.
Separate your wants from your needs.
Make your purchase.
Maintain your purchase.
15
Define Markup.
The income before taxes and other decductions.
An agreement to pay rent and fulfill an obligation for a length of time.
The price added on above what the dealer paid for the product.
The income after taxes and other deductions.
16
Why is a budget important?
Interest on a budget could accumulate into compound interest.
Budgets make you money.
Because writing a budget could be fun.
Following a budget will keep you out of debt.
17
Define Finance.
How you Manage Money.
An offering to lend you money.
A certain sum of money.
The Management of money.
18
Define Comparison Shopping.
Comparing the prices and quality of different items to see the better item.
The process of buying beverages, such as soda.
Shopping during a specific time in-order to get interest on that item.
The difference between the market value and the unpaid balance.
19
Why is it important to keep a checkbook resister up-to-date and accurate?
The compound interest will increase in your bank account if not up-to-date.
You need it up-to-date to open up a bank account.
It can prevent you from writing checks when you do not have the money.
The credit union will pay you for keeping it accurate.
20
Is Food a Need or a Want?
Want
Need

LE 300 Chapter 1 Flashcards | StudBud