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Financial Literacy - Goals, Spending Plans & Credit Cards Flashcards | StudBud
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Financial Literacy - Goals, Spending Plans & Credit Cards
Financial Literacy - Goals, Spending Plans & Credit Cards
35 terms
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StudBud Administration
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Based on Take Charge Today Introductory Level resources
Flashcards
35 cards
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Practice quiz
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Questions
35
Answers
1
Achieve in a time period of less than one year.
financial goals
SMART goals
long-term goals
short-term goals
2
Paying credit card payments on time
Do
Don't
3
Money spent...
income
net gain
expense
spending plan
4
When there are more expenses than income.
debt
Net loss
Net gain
Net nuetral
5
Guides individuals to think through all components of making a good major decision.
Well-being
Decision-Making Process
Values
SMART Goals
6
State of being happy, healthy and prosperous.
values
well-being
major decisions
educational goals
7
Made on a daily basis and don't require a lot of time to think through.
values
decisions
financial decisions
routine decisions
8
Charged if the amount of money charged goes over the card's credit limit.
Over the top fee
Over the rainbow fee
Over and under fee
Over the limit fee
9
The maximum dollar amount that can be charged on a credit card.
minimum payment
penalty APR
over-the-limit fee
credit limit
10
Choice that is made about things that affect a person's life.
wisdom
goal
values
decision
11
Fee charged when a cardholder does not make the minimum monthly payment by the due date.
late payment fee
minimum payment
APR
Interest
12
Charging items that can't be paid off within one month
Don't
Do
13
Money earned is...
net loss
expenses
income
net gain
14
Paying the amount charged to a credit card in full every month.
Do
Don't
15
Minimum amount of a credit card bill that must be paid every month.
minimum percentage rate
minimum payment
minimum penalty
maximum
16
When goods, services or money is received with the promise to pay back in the future
credit
interest
due date
credit limit
17
What does SMART in SMART Goals stand for?
Specific, Measurable, Attention, Realistic, Time Out
Specific, Measurable, Attainable, Realistic, Time Bound
Super, Major, Awesome, Right, Technical
Specific, Measurable, Attainable, Really Easy, Timebound
18
When there is more income than expenses.
net gain
expense
net loss
goal
19
Impacts an individual's or family's well-being.
routine deicisions
decision-making process
educational goals
financial goals
20
The price of money.
interest
due date
credit
penalty APR
21
Keeping track of all charges by keeping receipts
Don't
Do
22
The date the minimum payment is due.
Late payment fee
end of the month
every other week
Due date
23
These are the steps in the decision making process.
Identify alternatives, list problems, Decide & Evaluate
Identify the Goal, List the alternatives, Decide & Evaluate
Identify the problem, List alternatives, Decide, Evaluate
Identify the problem, Roll the dice, Decide & Evaluate
24
The end result of something a person intends to accomplish.
financial goals
goal
well-being
decision
25
Have long-term effects on a person's life. Should be made carefully & with much thought.
routine decisions
educational goals
major decisions
financial goals
26
A higher interest rate that is charged on a credit card account each month.
Penalty APR
Rent
APR
PAR
27
Checking the monthly credit card statement for errors
Do
Don't
28
A financial statement individuals can use to assist with money management.
Credit Card statement
Bank account statement
Spending plan
FCS is the best class ever
29
Paying only the minimum payment due
Don't
Do
30
Credit card debt in the United States
$880 Million
$880
$880K
$880 Billion
31
Fundamental beliefs about what is desirable, worthwhile and important.
values
well-being
decision
goals
32
Helps individuals prepare for success in the workplace.
decision making process
short-term goals
educational goals
major decisions
33
Can be reached in more than one year.
short-term goal
long-term goal
educational goal
financial goal
34
The interest rate charged on a credit card account each month.
Account Percentage Rate
Annual Percentage Rate
Annual Percentage Risk
Annual Penalty Rate
35
Going over the card's credit limit
Do
Don't
