Chapter 1 review

Having a(n) ________ means the amount if your liabilities is larger than the value of your assests

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

What is the fifth foundation

The Five Foundations provide a simple _____________ to help you win with money

Personal finance is 20% head knowledge about money. What is the other 80%?

When you set financial goals, they should be ____________

As a single adult, you should ___________

What are the Five Foundations

A(n) _______________ is anything you own that has value

Franklin D. Roosevelt passed the New Deal because of the Great Dperession in the 1930s. What was the purpose of it?

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

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

What is financial literacy

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

A ________ financial goal takes up to two years to reach

The total student loan debt owed in the U.S. is currently about how much?

Your money personality impacts

The percentage of Americans who are living paycheck to paycheck is almost

Avoiding debt can lead to financial freedom and hope

Personal finance is all the financial desicions a(n) ________ must make in order to earn, budget, spend, and give money

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

Almost half of all Americans report having less than____________ in savings

________________ relates to all of the different money decisions you make each day

As a(n) ___________, it is up to you to make choices about what you buy and use.

American culture and buisnesses have convinced cosumers that using __________ is normal.

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

Personal finance is 20% ________ and 80% _________

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

Is it possible to pay for college with cash

You should always make sure you have a ......

____________ means having the knowledge and skills to manage your personal finances

____________ is a fee charged for using borrowed money for a purchase

Without any debt, you can be outrageously __________

Being a spender has many more positives than being a saver

Knowing your __________ is the sarting point for your financial plan

Savers have a tendency to be

To know your net worth, subtract your liabilities from your_______

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

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

Living on less than you make means not.....

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

What is the First Foundation

After WW1, the demand for products increased and people began getting credit without loan sharks. Because of this,credit