Five Foundations
Paying for college in cash is what step of the Five Foundations?
4th Step
When is comes to money, you are eaither a __________ or ____________
Spender or a Saver
____________ is anything that you owe to another place or person
Liability
What percentage of Americans are living paycheck to paycheck?
80%
True or False: Interest is a fee charged for borrowing money, but it can also be given to you from a bank if you save money?
True
True or False: Building wealth and giving is the 3rd step of the Five Foundations
False
How long does it normally take a person to pay off student loans?
10 Years
_____________ is anything you own that has value
Assets
____________ % of teens said their parents rarely or never talk about finances with them?
39%
Almost half of Americans report having_______ in their savings account?
$1,000
What are other ways to build wealth and give as a high school student?
Donate your time and effort, invest, save money, invest in the younger generations.
True or False: FASFA Pell Grants are loans that you have to pay back.
False
At your age, you should have a ___________ account set up.
Savings
________% of teens said their parents are always worried about money?
54%
American cultures has convienced consumers that using ___________ is normal?
Credit
What is the first Step in the Five Foundations?
Save a $500 emergency fund
At what age can you apply for a Credit card by yourself?
18 Years Old
Live on _________ then you make
Less
Personal Finance is ____ head knowledge and _________ behavior?
20%,80%
The consumer debt per person is roughly?
Roughly 34,000
What is the second step of the Five Foundations, and give an example of how it affects you at your age?
Get out of Debt- Live paycheck to paycheck, can't afford things, don't have the nicest items?
What do you have to file for with the government if you get overwhelmed by debt and can't pay it back? You either don't have enough income or don't have income at all. This includes medical debt, credit card debt, student loan debt, and so on.
Bankruptcy
We all have _________ personalities?
Money
What percent of High School Students take a personal finance class in High school?
45%
What is the average length of a mortage or house loan?
30 Years