Money management
____ _____ includes several skills that many people accept as part of daily living—skills like keeping track of your money, living within your budget, and balancing your checkbook.
Money management
____-____ goals (to be met within the next week, month, or year),
short-term
A few expenses occur each year at about the same time, such as holiday gifts. These are called ____ _____.
seasonal expenses.
______ provides you with money if you suffer some type of illness, disaster, or accident.
insurance
____ or _____insurance. Accident or disability insurance provides a specified amount of money at times when the policy owner is unable to work because of illness or after suffering an accident.
Accident or disability
The first step in making a _____ is quite easy: identify your expenses.
budget
____ _____ goals are things you cannot pay for right now but hope to take care of at some future date.
Future financial
Unfortunately, there are always a few bills and expenses that you don’t anticipate. These are ____ ____, such as medical problems, broken eyeglasses, being burglarized, and repairing broken appliances.
emergency expenses
People who own their own homes purchase an insurance policy that insures the house itself as well any of your family’s property that it contains.
Homeowner’s insurance.
This insurance provides money to families after the policy owner dies.
Life insurance
People have different personal _____ that affect how they determine their financial goals.
priorities
_____ ______ (to be done one to five years from now),
intermediate goals
Some expenses and bills change each month, depending upon how much of a utility was used or how much was purchased. Some examples include electricity, water, telephone, food, and clothing. Because these bills fluctuate each month, they are called:
variable monthly expenses.
People who do not own their own homes can still have their personal possessions insured against theft, loss, and damage if they rent a house or apartment.
Renter’s insurance.
_____ _____ plans are available to pay for different types of medical coverage, including doctor visits, hospitalizations, prescription drugs, and substance use disorder treatment and counseling.
Health insurance
Name your 3 top financial priorities
??????
___-____ goals (to be done five or more years from now).
long term
Some bills are almost always the same each month, such as rent, car payments, monthly bus fare card, or child support payments. Because these bills don’t vary from month to month, they are called ____ ____ ____.
fixed monthly expenses
This covers medical, hospital, and funeral expenses for the policy owner and passengers at the time of a wreck.
Medical payments insurance.
Some states require __-____ auto insurance—with this type of policy, an individual’s insurance automatically pays for damages to his or her car and his or her medical expenses (up to a specified limit), no matter who is at fault.
no-fault
Whether you’re a wealthy businessperson or struggling from paycheck to paycheck, the first steps toward better financial management are to (1) and (2)
take stock of the situation
organize your goals and objectives.
There are five basic types of expenses: name 3
(1) fixed monthly expenses, (2) variable monthly expenses, (3) fixed yearly expenses, (4) seasonal expenses, and (5) emergency expenses.
There are a few expenses that occur once or several times per year, such as local or state taxes. These are called?
These are called fixed yearly
This type of insurance covers incidents in which the owner’s car injures or kills a pedestrian, a person riding in another car, or a passenger in the owner’s car.
Bodily injury liability.
This insurance covers damage caused by the policy owner’s car to the property of other people.
Property damage liability.