Budget
What is a big part of the budget plan?
Income/ Expenses
What is an example of paying yourself first?
Deposit money into your savings
What does GDP stand for?
Gross Domestic Product
What is the principle that mentions the importance of investing in a variety of different things, or not putting "all of your eggs in one basket?"
Diversification
What is something you should do after choosing a budget plan?
Track your progress.
What is more important than the amount saved?
The habit formed
What is the ability to understand how money works in the world, how someone manages to earn or make it and how that person manages it?
What is Financial Literacy
Why are mutual funds considered a less risky investment than stocks?
Because they include many different types of investments from many industries and are professionally managed.
What is something you should look at when choosing a budget plan?
Look at needs vs wants.
Income.
Set aside a percentage to save.
How do you form a habit?
Commitment, discipline, delayed gratification
What is a loan secured by real property through the use of a mortgage note which evidences the existence the loan and the encumbrance of that realty through the granting of a mortgage which the secures the loan?
Define a mortgage loan.
Which of the following has the highest risk and therefore the greatest potential return rate?
Stocks, bonds, savings account, your piggy bank.
Stocks
What is a way to revisit your budget?
Keep a spending journal
Items you must have to live.
What are needs?
What is a form of risk management?
This is Insurance.
What is a riskier way to save and grow your money?
Stock Market
What should the budget be based on?
The Organization's Strategic Plan
Where is the safest place to invest your money?
Savings Account
A credit rating is the same as a credit score. (True or False question)
What is False?
What is money that is owed or due?
Debt