Chapter 3 - Foundations in Personal Finance

Do you want to build a snowman?

Which of the following is a consequence of overdrawing your checking account? 

A written cash flow plan is otherwise known as a?

Which of the followingaccount records would have the most current balance?

Expenses that remain the same from month to month

The act of matching your bank statement with your checkbook 

Car repairs are a:

A debit card cannot be used for online purchases.

Non-essential expenses

Doing a budget does not: 

A summary of all the income and outgo over a certain time period

A cash flow plan where every dollar of income is assigned a job

Occurs when money is withdrawn from a bank account and the available balance goes below zero

The number-one cause of divorce in North America today is stress and disagreements over money.

Groceries are a:

An item that is bought without previous planning or consideration of the long-term effects 

Having more than one bank account is never a good idea since it can complicate money management

ʺPay yourself firstʺ is assigning a portion of your income to saving and investing every month.

13) Which of the following is not a record-keeping feature you could expect from your bank?

The envelope system works great for things that don’t normally have a fixed monthly expense.

Going out to eat is an example of a(n)?