Savings
Budget
Debt
College Essentials
Relationships & Giving
100
What is baby step number one?
Put 1000 in a savings account as an emergency fund
100
A written plan will remove a lot of _____ and ______.
overdrafts; stress
100
Is lending money to family/friends good or bad and explain.
The relationship will be strained or destroyed.
100
What does DISC stand for?
Dominant - Influencing - Steady - Compliant
100
Families operate on what system?
The value system
200
What percent of consumers live paycheck to paycheck?
70%
200
What is the envelope system?
Putting money in categorized envelopes to restrict self from overspending in that category.
200
__% of Americans live paycheck to paycheck.
70
200
Is there a place on campus that will give feedback on resumes, cover letters, and mock interviews?
Career Center!!! Be prepared!
200
The number one cause of divorce in America is what?
Money fights
300
Pre-authorized checking (PACs) withdrawals are a good way to build discipline because they what?
System of automatic payment processing by which bills, deposits, and payments are handled electronically and at regular intervals or an a predetermined schedule.
300
42% of college students who leave school, leave for what reason?
Financial reason - Budgeting can alleviate this
300
What is the average car payment over a course of 64 months (a little over 5 years)?
$464
300
Name 3 items you can do to receive Financial Aid.
Fill out FAFSA form - Research Grants - Research Scholarships - Research Work Opportunities - Set up an emergency fund
300
Which gender reports higher levels of stress regarding money?
Women
400
What are the 3 basic reasons to save?
emergency fund - purchases - wealth building
400
Name 2 reasons why cash flow plan won't work.
1. Leave things out 2. Overcomplicate your plan 3. Don't actually do it 4. Don't actually live on it
400
Why is getting a new car a bad idea?
A new car loses 70% of its value in 4 years. Example: a $28,000 new car will be worth $8,400 in 4 years.
400
The difference between commission and allowance is what?
Commission is money given for providing service. Allowance is money given for free.
400
A written plan gives you empowerment, self-accountability, and what?
Control
500
What is the sinking fund approach?
Save a small amount each month for a certain amount of time to save up for a certain something
500
Without looking, name 7 items that should be on a monthly expenses worksheet
Hygiene; Clothing; Food; Car Payment; Car Insurance; Gas; Credit Card Payment; Phone Bill; Rent; Going Out; Savings...
500
What are the steps of the debt snowball? (method to eliminate debt)
List debts smallest to largest. Pay minimum of all bills and put any extra dollar available to the smallest debt. When the smallest is paid off use the money you would be using from the smallest to the new smallest. Therefore, the money keeps rolling over to each bill.
500
What 4 transitions can be expected after graduation? (according to Ramsey)
1. Going to school 15 hours a week to 40 hours of work a week 2. Higher income equals higher responsibility (use extra money to build wealth) 3. Moving requires research of cost of living in that area 4. Take your time to buy a house!
500
Name 2 differences men and women have about money according to Dave Ramsey.
Men: don't believe saving is sophisticated enough; negotiate deals to win; loose self-esteem when having money problems because it represents a score card.....Women: believe important to save; hunt for deals because they enjoy it; fear having money problems because it represents security
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