Bankrupt
What is the First Foundation of Personal Finance According to Dave Ramsey
Have an emergency fund
Savers have a tendency to be...
Strict with their money and not spend any of it
To know your net worth, subtract your liabilities from your _______.
Assets
A money principle to keep in mind is to live on _______ you make!
Less
Save; Invest
If your assets total more than your liabilities, you will have a(n) _______ net worth.
Positive
A personal financial action plan.
What does living paycheck to paycheck mean?
Living paycheck to paycheck occurs when a person's income is devoted to expenses which, in turn, means that little to no money is put in savings.
Franklin D. Roosevelt passed the New Deal because of the Great Depression in the 1920s. What was the purpose of this program?
To promote economic recovery and social reform
True or False: Is it possible to pay for college with cash?
True
What is the best way to avoid running out of money too quickly?
You can make it a habit to plan and set goals for your money
What is financial literacy?
The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
After World War I, the demand for products increased, and people began getting credit without loan sharks, Because of this, credit...
Started to become more socially acceptable
True or False: Being a spender has many more positives than being a saver
False
You should always make sure you have a...
Budget
True or False: Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal
False
Making the right choices with your money - managing your money - involves knowing how...
Earning, budgeting, saving, spending, and giving affects your money.
When you set financial goals, they should be...
Specific, measurable, time-sensitive, yours, and written
Your money personality impacts...
How you handle money
To gain an understanding of your personal finances, you should know...
Where you stand financially, how much income you have, what goals you want to set, and how you'll reach those goals.
Personal finance is all the financial decisions a(n) _______ must make in order to earn, budget, save, spend, and give money over time.
Individual or Family
Using credit has not always been a socially accepted practice, but it has become...
Normal in American Culture
A _______ financial goals take up to two years to reach.
Short-term
What is the Fifth Foundation?
Build wealth and give
The Student Loan Marketing Association (SLMA)