Financial Planning
All the decisions and actions you make in order to earn, budget, save, and spend money.
What is personal finance?
At this level, there are bills, debt, and the hope that you have enough to meet your obligations.
What is survival?
The portion of a loan expressed as an a percentage.
What is interest?
Barely meeting financial obligations each month and never being able to save.
What is living paycheck to paycheck?
Knowing basic math, knowing the language of money, and managing your behavior.
What is money smart?
Financial aims or objectives that get you desired results.
What are money goals?
At this level your wealth is generating income for you!
What is secure?
You owe, you owe (so off to work you go!).
What is debt?
Personal finance is ______behavior and _______mental knowledge.
What is the 80/20?
Government came up with new mortgage and consumer lending policies for the working class to convince commercial banks that lending money could be profitable
What was the New Deal?
A written financial plan that tells you where your money goes.
What is a budget?
At this level you have a basic understanding of money management. You have a small monthly surplus and you pay yourself (save) and invest.
What is comfort?
The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is credit?
______ of Americans are living paycheck to paycheck.
What is 75%?
FDIC
What is Federal Deposit Insurance Corporation?
The means and processes you use to handle your money, i.e. saver or spender.
What is money personality?
Saving $500 in case you need it.
What is an emergency fund?
Paying yourself first by putting money away.
What is saving?
The knowledge and skill set necessary to be an informed consumer and manage finances effectively.
What is financial literacy?
FHA
What is Federal Housing Authority?
Current beliefs about money that are not correct. Such as car payments are a way of life or student loans are good loans.
What are money myths?
Refusing to have credit cards, car loans, school loans etc. The only loan anyone should have is a 15 year mortgage.
What is staying out of debt?
A system by which goods and services are produced and distributed.
What is economy?
People or businesses that use products or services.
What is a consumer?
HOLC
What is Home Owners Loan Corporation?