car
what does the rear axle do for a car
spins the wheels so the car can move forward
what is a certificate of deposit
way to earn money for a period of time
what does conflict mean?
a disagreement, dispute, or fight between people with different opposing points of view.
what is consumerism?
consumerism is the belief that personal happiness comes from buying and consuming goods or services
Where are you today financially (cash flow and net worth)?
The first step in creating a budget is to accurately list your monthly income and all expenses to understand your cash flow
what does the front axle do?
turns the car left and right
why should you pick a bank you trust?
so you don't have to be worried about you loosing money.
what does resolution mean?
the act of finding a solution to a conflict or problem
What are the main benefits of consumerism?
The primary benefits include boosting the economy, creating jobs, encouraging innovation leading to better products, and fostering a connected global society.
Does your spending support your goals?
Your budget should be a tool to align your spending with your priorities, whether that's paying down high-interest debt, building an emergency fund, or saving for a house or retirement.
what does the radiator do on a car?
cools down the engine so the engine doesn't over heat
why do you put a line after the set amount when writing a check?
so that someone can't add money onto the check
what does conflict resolution mean?
the process of settling a conflict by cooperating and problem solving
What are the major drawbacks or negative impacts of consumerism?
Critics argue that consumerism leads to several issues
Have you set aside money for unexpected (or less frequent) expenses?
It's crucial to prepare for both emergencies and irregular costs (like annual insurance premiums or holiday shopping)
what do the jumper cables help with?
if your car is dead you can use a running car to start the dead one by connecting red to red and black to black
what is interest?
An interest is the cost of borrowing money or the return on lending/investing it
what does empathy mean?
the skill of what it would be like in another persons place
What is the role of mass media and advertising in consumerism?
Mass media and advertising play a significant role in fueling consumerism by constantly presenting products and services as essential for a desirable lifestyle or happiness
How do you track and re-evaluate your progress?
Consistent tracking helps you spot spending patterns and identify areas for improvement. You can track your spending using a notebook, spreadsheet, or a dedicated budgeting app.
where can you find recommended psi?
on the tire
why should you not give out banking information to anybody even family?
so they don't steal your money/savings
what does mediation mean?
intervention between conflicting parties to promote reconciliation, settlement, or compromise
What are some actions an individual can take to be a more conscious or sustainable consumer?
Individuals can make several changes to their habits to be more sustainable and conscious consumers
What is the plan for your long-term financial future?
Planning involves saving and investing strategically with future goals in mind. Consider setting up automatic transfers from your paycheck to investment accounts, such as a 401(k) or an individual retirement account (IRA)