Personal Finance Unit 1

Personal finance is more about head knowledge than controlling your behavior.

Decisions regarding family or individual money, including spending, saving, budgeting, etc.  

The New Deal was a legislative and administrative program in the 1930's started by president...

In the “secure” level of financial security, you …

When it comes to managing money, success is about _______% knowledge and_______% behavior.

True/False: The New Deal helped convince banks that credit could be profitable. 

Dave Ramsey earned his money through selling cars. 

True/False: The average student loan debt in the US is around $32,000.

Which of the following is a consequence of spending more than you make?

True/False: The “normal” American is living comfortably and has savings. 

True/False: You will be able to depend on financial planners to manage your money. 

Debt which specifies the principal amount, interest rate and date of repayment; a "note"

True/False: What you do now with money will affect your financial future, even as a teenager.

Assessing your ___situation includes checking your income with your assets and liabilities. 

When it comes to personal finance, the math is easy. What’s challenging is managing your _____.

Knowing the “language” of money is important to financial success because…

In order to accomplish your goals, you should follow a detailed _________________.

In the “survival” level of financial security, you …

The knowledge and skill set necessary to be an informed consumer and manage finances well. 

True/False: Most Americans avoid the use of credit, especially for "big ticket items"

True/False: If you save $100 a month starting at the age of 25, by 65 you'll be a millionaire. 

A(n) ________________ is a system by which good and services are produced and distributed.

________involves the granting of a loan and the creation of debt, any form of deferred payment.

How can knowing your money personality affect your decisions about money?

If you have an obligation to repay someone money you now have ______________. 

What is NOT a common mistake Americans often make when it comes to money.

After the Great Depression, what economic event revived the American industry by creating jobs?

A(n)_________________ is any person or organization that uses products or services. 

How can debt prevent you from building wealth?

A fee paid by a borrower to the lender for the use of borrowed money, usually a %

True/False: Most Americans can't afford an emergency of $500 or more. 

Which of the following is a reason credit is marketed so heavily to consumers in the US?