Vocabulary
Money owed to another person or company
Debt
Almost ____ of Americans use all of the money they get from one paycheck just to make it to the next.
80%
The problem with anyone‘s money is the person in the ________ .
mirror
True/False
Being a Spender has more positives than being a saver.
False
An important money principle to consider is that you should _____ & _____ your money.
save;invest
a person or organization that uses a product or service
Consumer
Because personal finance is only ___ head knowledge and 80% behavior.
20%
Self-control is _________ maturity.
emotional
What is the first foundation?
Save $500
In 1972, what association made borrowing money to attend college much easier than it had been?
The Student Loan Marketing Association
A person or entity that charges borrowers interest rates above an established legal rate
Loan Shark
_____ is the biggest thief of your financial future.
Debt
Two measures of wealth: income and _________ .
Net Worth
You should always make sure you have a......
budget
A financial _____ goal takes up to two years to reach.
short-term
Financial debts or obligations
Liability
If the value of your assets is greater than your liabilities, you’ll have a ______ net worth!
positive
The Fourth Foundation: Pay cash for _______ .
college
A money principle to keep in mind is to live on _______ you make.
Less
To know your net worth, subtract your liabilities from your ______.
assets
What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
Net Income
If the amount of your liabilities is larger than the value of your assets, you’ll have a ______ net worth.
negative
It’s important that you know your money______ .
personality
Franklin D. Roosevelt passed the New Deal because of the Great Depression in the 1930s. What was the purpose of this program?
To promote economic recovery and social reform
What are the five foundations?
1.Save $500
2.Get out/Stay out of Debt
3. Pay cash for your car
4. Pay cash for college
5. Build wealth and give