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Personal Finance: Money Myths or Truths Flashcards | StudBud
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Personal Finance: Money Myths or Truths
Personal Finance: Money Myths or Truths
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4,205 plays
Personal finance money myths and truths #personalfinance #moneymyths #moneymanagement
Flashcards
22 cards
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Questions
22
Answers
1
Having lots of credit cards show that you are an important person.
Myth
Truth
2
Investing money in the stock market is too risky. A savings account would be a better place.
Myth
Truth
3
Buying a used car is just inheriting someone else's problem.
Myth
Truth
4
Research has proven there is a direct link between personal self-worth and money.
Myth
Truth
5
Money is the #1 subject of marital quarrels and is one of the main reasons for divorce.
Myth
Truth
6
Most millionaires made their money by winning the lottery.
Myth
Truth
7
The balance shown on my ATM receipt is how much money I have left in my account.
Truth
Myth
8
Car insurance usually costs less for female teens than male teens.
Truth
Myth
9
You should borrow the most money offered to you.
Myth
Truth
10
A person should keep 3 to 6 months' worth of living expenses in an emergency fund.
Myth
Truth
11
It's too risky to invest your money.
Myth
Truth
12
An occasional missed credit card payment won't hurt my credit record.
Truth
Myth
13
You don't have to have a lot of money to make more money.
Truth
Myth
14
In the grocery store the food displays at the end of the aisles are the best buys.
Truth
Myth
15
There are checks in my checkbook so there must be money in the checking account.
Truth
Myth
16
Student loans are the only option to finance your college education.
Truth
Myth
17
All adults need life insurance.
Myth
Truth
18
Leasing an automobile is cheaper than buying.
Truth
Myth
19
Paying the minimum on a credit card bill is a good money management practice.
Truth
Myth
20
Having a lot of money will guarantee a person's sense of well-being, happiness, or respect.
Myth
Truth
21
You should wait until after college to start a retirement plan.
Myth
Truth
22
Everyone should save 10-15% of their salary for retirement.
Truth
Myth
