1.1
Bad history with credit leads to this.
What is a higher interest rate?
What happens to your net worth after you pay all your debts?
Your net worth will go up
Get out of debt and stay out of debt
Money owed to another person or company
What is debt?
What is the equation for net worth?
This is the largest debt in the US.
What is mortgages?
What is a financial plan?
A plan that allows a person to meet their immediate needs and long-term goals.
To make the most progress, follow these in order
What are the five foundations?
The cost of goods or services; money paid out
What are expenses?
Not having debt can lead to this
Not having debt can lead to this.
What is financial freedom?
What is net worth.
Your worth after assets and debts are considered.
Pay cash for college
What is the fourth foundation?
The amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities
What is net worth?
72% of US people have this
What is debt?
What is behavior?
Negative net worth is.
When your debts are greater than your assets.
All the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time
What is personal finance?
This type of goal take 2-5 years to accomplish
What is a long term goal?
This is the real problem for most people.
What is making smart decisions?
Financial plans are always long term, true or false.
False
Build wealth and give
What is the fifth foundation?
the knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
What is financial literacy?
Principles that financially independent adults will follow