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Foundations of Personal Finance Flashcards | StudBud
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Foundations of Personal Finance
Foundations of Personal Finance
50 terms
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StudBud Administration
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25 plays
How much do you remember from this class?
Flashcards
50 cards
F
Practice quiz
P
Host live
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Questions
50
Answers
1
Live like _____ else so that later, you can live like ____ else.
no one ... no one
something .... something
someone ... someone
everyone ... everyone
2
If you will _______ to your money, you will have some!
limbo
jitterbug
happen
tap dance
3
Dave encourages us to be different because normal is _______ .
broke
crazy
weird
rich
4
An
economy
is ...
A system by which people buy things.
A system by which nobody uses the system.
A system by which there is no system.
A system by which goods and services are produced and distributed.
5
Things aren't always as they ______ .
should be
want
seem
are
6
Few people _______ at doing something they _____ .
succeed .... love
fail ... love
succeed .... hate
fail .... hate
7
A consumer is ...
A person or organization that uses a product or service
A recyclable material
A person that uses a product or service
A non-recyclable material
8
When you are developing your ________, be careful not to _______________ your plan.
budget .... overcomplicate
budget ... underestimate
muscles .... underestimate
muscles .... overcomplicate
9
Dave asked us: If you ran a company called _____ incorporated, would you fire yourself?
YOU
WE
THEM
ME
10
A budget is a detailed money plan written on paper, on purpose.
True
False
11
What is the
time value of money
?
buying power in 1800 as compared to 1900
buying power in 1950 as compared to 1960
buying power today compared to history
buying power in 2030 as compared to 2020
12
Dave encourages us to be normal.
False
True
13
Why do we save money?
for a rainy day
for a sunny day
for a snowy day
for emergencies and wealth building
14
Surprisingly, when you put boundaries on your spending, you end up with MORE money!
True
False
15
7/10 families live paycheck to paycheck.
True
False
16
Dave would tell us to create an emergency fund first, then save for a rainy day.
True
False
17
What does the "normal American family" look like?
In debt
No debt
What debt?
Some debt
18
It is important to develop a _______ _________ for keeping records of expenditures.
filing system
filling system
fixing system
fanning system
19
Learning how to manage your ________ is one of the most _________ skills you can have!
money .... impractical
money ..... important
money .... deadly
money .... useless
20
Dave Ramsey is from Kentucky.
False
True
21
The first foundation, as Dave taught us, is _______ .
pay off debt
save $500 in an emergency fund
buy a new piggy bank
save for a rainy day
22
A
consumer
is ...
An organization that needs a person.
A person or organization that uses a service.
A service that needs a person.
An organization that uses a service.
23
Personal finance is ...
... half of the money decisions that an individual or family makes.
... some of the money decisions that an individual or family makes.
... all of the money decisions that an individual or family makes.
... none of the money decisions that an individual or family makes.
24
Debt is good! Everyone should have some!
False
True
25
It is very important to know your money ______ .
personality
measurements
quantities
trivia
26
Hands down, the
BEST
course you'll ever take during high school is ....
Personal Fiberglass
Personal Fitness
Personal Fairness
Personal Finance
27
Dave taught us to choose a career that gives us _____ .
time off
money
joy
fear
28
Managed money goes _________ .
nowhere
to the bank
farther
everywhere
29
Winning with money begins with your _______ .
house
fashion choices
behavior
car
30
We should replace money _____ with money ______ .
truths ... myths
coins ... bills
truth ... lies
myths .... truths
31
More often than not, becoming wealthy is a marathon and not a sprint.
False
True
32
Why is it important to take a list shopping with you?
so you buy everything that isn't on the list
so you buy everything
so you don't buy anything
so you don't buy anything that isn't on the list
33
Personal finance is 20% behavior and 80% head knowledge.
True
False
34
Dave Ramsey has a ....
television mini series
box office hit movie
talk radio show
daily soap opera
35
Rachel Cruz is ...
Mrs. Klinsmann's daughter
Dave Ramsey's daughter
Chris Hogan's daughter
Mrs. Bigelow's daughter
36
Rachel Cruz is ...
Mrs. Bigelow's daughter
President Trump's daughter
Dave Ramsey's daughter
Mrs. Klinsmann's daughter
37
Be ________ with your money!
aloof
lazy
intentional
carefree
38
One reason people avoid budgets is ....
It feels like a T-shirt
It feels like a straightjacket
It feels like a winter parka
It feels like a sweater
39
Dave Ramsey is
actually
from ...
Kentucky
Florida
Tennessee
Louisianna
40
It is ok if your _________ changes from month to month.
underwear
budget
internet provider
grocery list
41
Most people don't have a _____ problem; they have a ______ problem.
behavior .... money
fashion ... hair
money ... fashion
money ... behavior
42
Dave would tell us to put all of our money in a piggy bank and save for a rainy day.
False
True
43
What is the best class you'll ever take in high school?
Personal Fitness
Personal Finance
Personal Fairness
Personal Failures
44
Why do you need an emergency fund at your age?
because it is going to rain
because teenagers break things often
because teenagers eat things often
because teenagers lost things often
45
Knowing the ______ of money allows you to tell your money what to do.
language
oddities
ins and outs
trail
46
The story of Ben and Arthur demonstrates the power of _______ .
diminishing returns
compound interest
disinterested parties
separate particles
47
Your _______ account should be considered your spending account.
retirement
checking
savings
investment
48
Chris Hogan
is a former ______ .
NFL sports announcer
NFL cheerleader
NFL player
NFL team owner
49
Our debt system keeps us from building _____ .
houses
skyscrapers
wealth
cell towers
50
Interest can be defined as ...
A fee paid by a borrower to the lender for the use of the borrowed money.
Something you feel when you like to do something
I don't know. I'm not interested in this question.
I don't know. I'm interested in getting more sleep right now.
