Money
The official currency of the U.S.
U.S. Dollar
The priority between needs & wants when budgeting.
Needs
Interest!
The best time to plant a tree was 20 years ago. The second best time is when.
Now
What is worth more, a dollar today or a dollar tomorrow.
Dollar today
Name 1 way to make money
Getting a job, investing, starting a business
General rule of thumb when determining how much to pay the Lord and how much to pay yourself.
10%
True or false, paying minimum monthly payments on a credit card is a good thing.
FALSE
This is generally considered the best percentage of your income to save each time you get paid.
10%
What does GDP stand for?
Gross Domestic Product
The U.S. Dollar is made out of this.
Cotton
3 to 6
How quickly should you try and get out of debt
as fast as possible!
Name an example of an investment
Stocks, bonds, mutual funds, etc.
A place you can store your money
Bank
The U.S. Currency is created here.
Washington D.C. & Fort Worth, TX
weekly or monthly
Generally considered a reasonable need for debt if used wisely
Mortgage on primary residence
The chance for a big return comes with what.
Risk
True or false. Get rich quick schemes generally always work.
False
20 countries in Europe use this as their official currency
Euro
Name one of the elements of the Budget acronym from Brother Rock's presentation.
Begin with the end in mind
Understand needs vs. wants
Don't spend more than you make
Get out of debt
Establish an emergency fund
Track expenses regularly
This is the term that represents the initial amount of money you borrow when taking on debt.
Principal
This type of portfolio is generally considered the wisest and safest.
Diversified
This is the accounting term for debt
Liability