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Goal
Is getting crumbl cookie a need or a want?
want
What is interest also known as?
APR
What does the federal reserve control?
Banks
Rise in the general level of prices
inflation
Giving up one thing for another is called…
A trade off
What are the five domains of your well-being?
physical, financial,intellectual,emotional, social
true or false: does your net income affect your budgeting?
true
What 3 things does the Rule of 72 determine?
What 3 things does the Rule of 72 determine?
APR is also known as what?
interest rate
What can you do if you’re spending too much on one thing, but need to use that money for more important things?
Trade off
Is getting specific new clothes for your new job a need or a want?
need
Which saving tool has tiered interest rates?
Money Market Account
The more time you have the more time you have to ____ the value your money has
increase
How does inflation affect average everyday people?
debt, inability to afford basic needs, etc.
What can you make to help physically see how much you earn and spend in the past?
What does financial stability give you?
peace of mind, sense of control
Price paid by lending someone else's money
interest
The Federal reserve lends to depository institutions in order to ensure ___ in the financial System.
Liquidity
What does APR stand for?
Annual percentage rate
Managing your incoming & budgeting is essential to reaching all of your..
Financial Goals
How can you increase net worth?
reduce liabilities, evaluate how moneys spent/managed
Your income affect yours budget by
determining what you can afford/fit into your budget
What's the formula of rule 72?
72/ interest rate = # of years needed to double the principal investment
The danger that the value of money won't be worth as much in the future.
Inflation risk