Finance Intro

Key components of financial planning include everything BUT....

A Debt note that specifies principal, interest, and date of repayment.  

a fee paid by a borrower to the lender for the use of borrowed money

A Debt note that specifies principal, interest, and date of repayment.  

All money decisions - spending, saving, budgeting etc

Managing money is _______% Behavior.  

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

Your emergency fund and savings should be kept in a separate spot from your spending money

Which of the following is NOT true?

Students should learn Personal Finance Because....

The widespread financial insecurity of Americans is primarily because:

When it comes to managing money, success is ___% knowledge and ___% behavior

Expensive houses and cars are the best indication of wealth

Having debt keeps you fro building wealth

Most American's today are wealthy and will have financial security upon retirement

an obligation of repayment owed by one party to a second party

A debt with a "note," which specifies the principal amount, interest rate and date of repayment

The Knowledge and skills necessary to be in a informed consumer and manage finances effectively

The system in which goods and services are produced and distributed.  

Why was the use of credit uncommon prior to 1917?

Everyone should have the SAME financial plan

A system by which goods and services are produced and distributed

A person or business that offers loans at extremely high interest rates

Obligation of repayment owed by one party (debtor/borrower) to a second party (credit/lender)  

a person or organization that uses a product or service

A period of temporary economic decline

Learning the language of money is NOT important because you will hire a financial planner

True Financial security is achieved when your money begins to generate an income

Personal Finance success is the result of

It is important to understand your money personality (spender vs saver)

The credit system today uses high interest rates and fees to turn high profits

A person or organization that buys/uses good or services.  

What you do now with money will have little effect on your financial future

When it comes to money, math is easy. What is challenging is managing your....

Which is a consequence of spending more than you make?

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

Which is NOT a factor in becoming money smart?

Which of the following is NOT a reason credit is marketed heavily in the US?

A fee paid by a borrower to the lender for the use of borrowed money.  

When developing a financial plan, the 1st thing you should do is assess your current situation