Chapter 1: Intro to Personal Finance

Why was the use of credit uncommon prior to 1917?

The bottom line is-- that a lot of people that "look" wealthy are

Most Americans today are wealthy and will have financial security when they retire.

Having debt keeps you from building wealth.

When it comes to personal finance, the math is easy. Whatʹs challenging is managing your ____.

Most Americans avoid the use of credit when it comes to buying big items (like a car)

What has become a way of life for the "normal" American?

The knowledge and skill set necessary to be an informed consumer & manage finances effectively.

Personal financial success is primarily the result of

Which of the following is not a true statement?

Which of the following is not a factor in becoming money smart?

An obligation of repayment owed by one party to a second party.

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

Which of the following statements best explains why income alone does not determine wealth?

A fee paid by a borrower to the lender for the use of borrowed money.

Since you are your age, what you do now with money will little effect on your financial future.

When it comes to managing money, success is about ________% knowledge and ________% behavior.

______ is the key ingredient to building wealth.

Being like everyone else means:

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

The granting of a loan and the creation of debt; any form of deferred payment