Lesson 1
an expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings.
What is Paycheck to Paycheck
the granting of a loan and the creation of debt; any form of deferred payment.
What is Credit
the amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities.
What is Net Worth
the First of the The Five Foundations.
What is Save a $500 emergency fund
How does being a "saver" impact financial discussion in a marriage
cautions approach to spending
all the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time.
What is Personal Finance
the percentage of principal charged by the lender for use of its money.
What is Interest Rate
anything that is owned by an individual, including money in the bank or investments.
What is an Asset
the Second of the The Five Foundations
what is Get out and stay out of debt
what challenges for a "spender" when it comes to managing money as a adult
what is impulse purchases, overspending
money owed to another person or company.
What is debt
person or entity that charges borrowers interest rates above an established legal rate.
What is a Loan Shark
a plan of action that allows a person to meet not only their immediate needs but also their long-term goals.
What is a Financial Plan
the Third of the The Five Foundations
what is Pay cash for your car
why is it important for couples to discuss their money personalities
what is mutual understanding and empathy
a person or organization that uses a product or service.
What is a consumer
the additional cost a lender charges for borrowing their money.
What is Interest
the dollar value of a person’s assets is greater than the dollar value of their liabilities.
What is a Positive Net Worth
the Fourth of the The Five Foundations
What is pay cash for college
how can a couple with different money personalities create a shared budget
identify their shared financial goals, track their individual spending
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay.
What is Net Income
the Fifth of the The Five Foundations
What is Build wealth and give
what dose it mean to "handle money' in the context of being single
what is taking full responsibility for earning and spending