5 Cs OF FINANCIAL MANAGEMENT
COMING TO TERMS
YOU OUGHT TO KNOW
RELATING WITH MONEY
APPLY YOURSELF
100
Collect
What is the C that refers to “spending and saving data”?
100
The process of managing income and expenses wisely, documenting spending and saving patterns, and paying debts.
What is personal finance?
100
The financial savings account that should contain 3-6 months of expenses
What is a money market?
100
An individual that enjoys budget preparation because they feel in control and see it as a way of taking care of loved ones.
What is a free spirit?
100
Create a checking account as a teenager and keep a balanced checkbook
What is budgeting basics?
200
Correct
What is the C that refers to, when I say “challenges and obstacles”?
200
A written cash flow pan that details monthly income and expenses
What is a budget?
200
A tax-protected college savings account
What is an Educational Savings Account (ESA)?
200
An individual that enjoys budget preparation because they feel in control and see it as a way of taking care of loved ones.
What is a nerd?
200
Spending, saving, and giving
What are the three envelopes one should have for their personal budget?
300
Create
What is the C that refers to, when I say “budgets and reporting system”?
300
The concept that defines how one’s unique needs and wants impact the setting financial goals.
What is individuality?
300
A pre-tax retirement plan that one should invest 15% of their household income
What is a Roth Individual Retirement Account?
300
A relationship with an individual with whom to discuss major purchases and budgets while providing honest feedback on unsound financial decisions.
What is an accountability relationship?
300
Empowerment, self-accountability, and control are gained by using this tool
What is a written budget?
400
Compare
What is the C that refers to, when I say “measure performance”?
400
Placing a fraud victim alert on your credit bureau and getting a police report
What are credit card fraud victim steps?
400
$500
What is the amount one should save in an emergency fund making less than $20,000 a year?
400
Poverty, Impulse, and Stress
What are three contributing factors that lead to poor financial management?
400
Paying off consumer debt like school loans, mortgages, and auto loans
What are ways an individual can build wealth?
500
Compile
What is the C that refers to, when I say “data and reports”?
500
A savings account set aside for unforeseen circumstances
What is an emergency fund?
500
$1000
What is the amount one should save in an emergency fund?
500
Value System
What is represented by the flow of money by an individual?
500
Food, Shelter, Transportation, and Utilities
What are four necessities in a personal budget?
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