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Vocabulary
Video Questions
The Five Foundations
Facts & Figures
Open-Ended
100

Money owed to another person or company

Debt

100

The problem with anyone's money is the person in the ______________.

mirror

100

What is The First Foundation?

Save $500 for an emergency fund.

100

What percentage of Americans say they're burdened by consumer debt?

72%

100

What does it mean to "Keep up with the Joneses?"

You think you need the things that other people have, even if you can't afford them.

200

The additional cost a lender charges for borrowing their money

Interest

200

Take _________ off the table.

debt

200

What is The Fourth Foundation.

Pay cash for college.

200

How much credit card debt does the average American household have?

$14,947

200

How do people get stuck in the paycheck to paycheck cycle?

A big chunk of their monthly income goes to paying off debt, so they can't save and often have to go into deeper debt just to make it through the month.

300

When your assets are greater than your liabilities, you have a ________________.

positive net worth

300
A negative net worth is when you _________ more than you own.

owe

300

What is The Third Foundation?

Pay cash for your car.

300

Personal finance is 20% knowledge and 80% _____________.

behavior

300

How do you calculate your net worth?

Net worth = what you own - what you owe

400

The granting of a loan and the creation of debt; any form of deferred payment

Credit

400

When it comes to money, you are either a __________ or a saver.

spender

400

What is The Second Foundation?

Get out of debt and stay out of debt.

400

How much was the total student loan debt in America in 2020?

$1.5 trillion

400

Describe two guidelines that can help you communicate about money better.

1) Pick the right time and place

2) Be honest

3) Seek counsel

4) Share your goals

500

An expression used to describe a person or household whose monthly income is devoted to expenses and has little to know savings

Paycheck to paycheck

500

Self-control is _____________ maturity.

emotional

500

What is The Fifth Foundation?

Build wealth and be outrageously generous.

500

The average American under age 36 is carrying over ___________ in debt.

$26,000

500

List 3 reasons why learning about personal finance can help you in the future.

Answers will vary.