Ch 10 - MONEY & RELATIONSHIPS - Financial Literacy

Which of the following can be a challenge when managing money on your own as a young single adult?

Communicating with others about money is entirely a matter of the other person hearing and following your wishes.

When married couples do not share goals and values in how they manage money, which of the following can occur?

When managing money, one’s value system is of NO importance

Which of the following statements is false?

When communicating with your parents about money, you should:

In a marriage, you are financially accountable to each other.

The result of achievement toward which effort is directed

A confidence and satisfaction in oneself

The goal in communicating with your parents about money is to become responsible and independent with the money you have

Which of the following statements regarding marriage and money is FALSE?

A process by which information is exchanged between individuals

Whether you agree with your parents or not regarding money, you should always respect and honor their decisions.

The state of being free from danger or threat

For women, the _______________ is the most important key to financial security.

A person’s priorities, beliefs and standards that affect how he or she views the world

The quality or state of being responsible, liable or answerable

A situation in which a person is lacking time, which leads to stress

Since men and women are different, who is supposed to do the financial decision making in a marriage?

A great way for a young person to avoid making money mistakes is to:

Discussing important financial matters with household members can reduce conflict.

Cooperative and coordinated effort on the part of a group of persons acting together in the interest of a common goal

Men tend to get good deals by:

A person who thinks that everything will work out fine and typically hates to deal with the details

When it comes to communicating with others about money, you should NOT:

Communication, teamwork and consistency are all important elements in handling family finances.

You should communicate your money goals with your parents and others close to you because:

If you value security, you are more likely to:

It is easier to manage money when you are accountable to no one.

If money fights are a problem in a marriage, then money management provides an opportunity to improve a marriage.

A written plan gives the single person empowerment, self - accountability and control.

The number-one cause of divorce in America is:

Which of the following is NOT a rule for the ʺbudget committee meetingʺ?

A person who is picky about budgeting and details

The flow of money in a family represents the ___________ under which that family operates.