Assets and Liabilities
Something you own that has monetary value, such as cash, a car, or a house.
An Asset.
This type of financial goal is something you plan to accomplish within a year, such as saving $500 for a new phone.
Short-Term Goals
You are afraid to sell an investment that has lost money because the pain of losing money feels greater than the excitement of gaining money.
Loss Aversion
An asset that generally loses value over time, such as a new car, is called this.
Depreciating Asset
Who is the head Coach of the Boys Basketball Team?
Coach Antley
Money you owe to another person, business, or financial institution is called this.
A liability.
Give an example of a mid-term goal.
Coach Antley's Discretion
You believe a certain brand of shoes is the best, so you only look for reviews that support your opinion and ignore negative reviews.
Confirmation Bias
A house, stock, or investment account that has the potential to increase in value or generate income can be considered this type of asset.
Wealth Building Asset
Who do we play in our first home game in the 2026-2027 football season?
Northwood Shreveport
A student owns a car worth $15,000 but still owes $8,000 on the auto loan. Which amount is the liability?
The $8,000 that is owed on the loan.
Give an example of a long-term goal.
Coach Antley's Discretion
Everyone at school is buying the newest phone, so you feel like you need to buy one too because you are afraid of being left out.
FOMO
You purchase a brand-new car for $35,000. Five years later, it is worth $18,000. How much value did the car lose during those 5 years?
$17,000
What is the name of our school band?
Chief of Bands
Identify the assets out of the examples given:
Cash, Auto Loan, Mortgage, Land, Stocks
Cash, Land, Stocks
What does the SMART acronym stand for?
Specific, Measurable, Achievable, Relevant, and Time-Bound
You spend $100 on a concert ticket, but the concert is terrible. You stay for the entire concert because you already paid for the ticket.
Sunk-Cost Fallacy
Which of the following assets would you consider a wealth-building asset:
- Vehicle, Stocks, Clothes, Appliances
Stocks
Name 2 sports at West Ouachita that do not require a ball in order to participate in the athletic event.
Track, Cross Country, Cheer, Dance
You have $5,000 in savings, a car worth $12,000, and $2,000 in credit-card debt. What is your net worth?
$15,000
Assets-Liabilities=Net Worth
Mia wants to save $2,400 for a car in 12 months. She decides to save the same amount every month. How much should she save each month?
$200
You really want a new pair of expensive shoes. After buying them, you are extremely excited at first, but after several months, they don't make you nearly as happy.
Hedonic Adaptation
Explain the major difference between a depreciating asset and a wealth-building asset.
Coach Antley's Discretion
Name our 3 school counselors.
Mrs. Bailey, Mrs. Boykin, and Mrs. Robinson