Ch 1&2- PF

Debit Cards are like cash because the money comes straight from your

_________ are anything we own, such as cars or baseball cards

Good interest accumulates in

The fourth component of a good financial plan is:

The first component of a good financial plan is:

Suzy has saved $4250. She plans to purchase an $8000 car- How much will she have to finance?

Many people purchase _______________.

Typically, people who plan for retirement while they are young often

__________________ is financial issues that affect an individual.

Sally makes $10/hr and works 20 hrs a week and a $15/week allowance. What is her annual income?

Many people have _________ that will provide a cash amount in the event of their death.

The seventh component of a good financial plan is:

The sixth component of a good financial plan is:

Make a plan for your ___________________________________________.

_____________ is a synonym for ownership.

Typical expenses include:

_______________ is the process of forecasting future expenses and income.

Assets - Liabilities = ?

Keeping financial records will help you when you __________

________ is rent on money.

The third component of a good financial plan is:

________ refers to how much readily available cash you have on hand for meeting immediate needs

The use of long-term financing requires ________

_______ is money owed to the government on earned income.

People typically insure _________________.

In order to establish your net worth, you must accumulate more assets and reduce your

_____________ involves making decisions about how much cash or liquid assets to keep in reserve

Creating a budget involves several steps: Establishing your net worth

_______________ is money coming in through wages earned, allowance, or other sources.

Financial problems are the #1 reason for ______________ in the United States

An example of a liquid asset is:

_____________________________ is the process of planning every aspect of your personal finances

In general, more education = more

________ are things you might have that can be quickly turned into cash.

Longer term financing is usually available at a lower interest rate. This financing is used for

A budget helps you plan your spending and saving, so you can meet you

Riskier investsments (stocks) can produce great returns-but also may experience

You should ____________ your financial plan to your family so everyone is on the same page.

___________ are what we owe, or debt

The amount owed on a loan is called the

Common investments include:

Liquid assets are helpful when you are experiencing

Credit cards  _____________.

The second component of a good financial plan is:

_______ involves making decisions about getting credit and using credit

The fifth component of a good financial plan is:

When you use credit (borrow money) the lender charges _____ on the money you borrow.

__________ include info about the interest rate and the time period of paying back the loan.

Liquidity assets include ______ that can be quickly and easily turned into cash.

Credit cards can be very ______