Ch 1 Intro to Personal Finance Review

All the decisions of an individual regarding money.

You don't really need to know the language of money.

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

A person or organization that buys/uses goods or services.

The use of credit is very popular in the United States.

Dave says you can buy happiness.

Using all your money from one paycheck to get to the next is referred to as

Managing your money well involves knowing how

The best way to learn how to manage money is to learn how to manage ______.

How you handle your money is affected by

A personal financial action plan is also known as

The credit industry is NOT very profitable.

The hardest part of making a budget is

Having a ___ means the amount of your liabilities or DEBT is larger than the value of your assets or STUFF.

Avoiding debt can lead to

A person or company that charges outrageously high interst rates on loans is called a .

Being in debt keeps you from building wealth.

A well written budget will allow you to

Anything you own that has value is called a(n)

What is the First Foundation?

Most American families have debt and struggle financially.

When it comes to managing money, you need ___% knowledge and __% behavior.

The knowledge needed to manage your finances effectively.

Using credit has not always been a socially accepted practice, but it has become normal in society.

To turn in assignments, you will place them in the green basket!

Self control is ___ maturity.

The granting of a loan and the creation of debt.

Knowing your ___ is the starting point for a financial plan.

Personal finance is ___% head knowledge and ____% behavior.

You should be a saver instead of a spender.