Intro to Personal Finance
A person or organization that uses a product or service
What is a consumer?
A written cash flow plan
What is a Budget?
Form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic, or other achievements
What is a Scholarship?
Caveat emptor
What is buyer beware?
Granting of a loan and the creation of debt; any form of deferred payment
To match your bank statement with your checkbook
What is Reconciling?
Program that allows students to work part time while continuing their studies
What is Work-Study Program?
The knowledge and skillset necessary to be an informed consumer and manage finances effectively
What is Financial Literacy?
A cash flow plan that assigns an expense to every dollar of your income, wherein the total minus the expenses equals zero.
What is a Zero-based budget?
The average amount of non-fiction books the average millionaire reads a month
What is one?
2. Don't have an emergency fund
3. Not keeping written monthly budget
What are common mistakes Americans make with money?
Writing checks, using a debit card, online bill pay, etc.
What are advantages to having a checking account?
Free Application for Federal Student Aid
What is FAFSA?
Success with money is __% behavior
What is 80?
What is the importance of paper and electronic financial records?
Owing anyone to anything for any reason
What is Debt?