Foundations in Personal Finance Chapter 1 Review

As a single adult, you should ...

Without any debt, you can be outrageously _______________.

You are eiter only a natural saver or a natural spender. You cannot have a balance of both.

An important money principle to consider is that you should __________ and __________ your money.

Being a spender has many more positives than being a saver.

Personal finance is 20% _______________ and 80% ______________.

You should always make sure you have a ...

Avoiding debt can lead to financial freedom and hope.

A money principle to keep in mind is to live on _______________ you make

Your money personality impacts ...

In 1972, what association made borrowing money to attend college much easier than it had been?

A _______________ financial goal takes up to two years to reach.

What is the Fifth Foundation?

Savers have a tendency to be ...

To know your net worth, subtract your liabilities from your ______________.

Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal.

What is the First Foundation

What are the Five Foundations?

If your assets total more than your liabilities, you will have a(n) _______________ net worth.

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

It is possible to pay for college with cash.

When you set financial goals, they should be ...

What is the best way to avoid running out of money too quickly?