Goat Setter
What are the two main reasons to save money?
What are rainy days and major purchases?
Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same or less than today?
What is less?
The easiest type of expenses to adjust.
What are flexible/variable expenses?
The best way to reduce your credit card debt.
What is pay more than the minimum payment required?
If you went to college and earned a four-year degree, how much more money could you expect to earn than if you only had a high school diploma?
What is a lot more?
What are the five important components of a good goal?
What is Specific, measurable, achievable, realistic, time-driven?
Suppose that by 2020 your income doubled and prices of all goods doubled too, will you be able to purchase more, the same or less than today?
What is the same?
Custom of clubbing together a number of persons for monetary aid. A fixed sum agreed upon is given by each at a fixed time (usually every week) and place, under a president; the total amount is paid over to each member in rotation.
What is an asue?
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is your Net Worth?
Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same or less than today?
What is Less?
A plan for managing money. Includes dividing expected income and expenses among spending and saving options based on personal financial goals during a given time period.
What is a budget?
Someone who lends you $100 for one year at 10% interest per year will expect:
What is $110?
The term used to describe the things you spend your money on.
What are expenses?
What does "pay yourself first" mean?
Setting aside a fixed amount as savings before spending income on other items.
Not-for-profit cooperative financial institutions owned by members. They offer the same services as banks, but the profit cycles back to members instead of stockholders.
What is a credit union?
The knowledge that empowers the masses with the ability to understand and manage money wisely
What is financial literacy?
Ethan's income for last month was $2,350. His monthly fixed expenses were $1,550, and his variable expenses totaled $900. Did he have a surplus or deficit for that month?
What is a deficit?
How can you make money while you sleep?
What is investments?
As you pay off your mortgage you build this.
What is equity?
The rate of breadbasket items in The Bahamas as it relates to VAT?
What is no vat?
Financial goals can be defined in terms of the time it takes to achieve them. Which of these is an example of a short-term financial goal?
Saving for college
Saving for a computer
Saving for retirement
What is saving for a computer?
Yolanda has three credit cards and she owes $500 on each of them. The interest rates are 7% for card A, 9% for card B and 8% for card C. If Yolanda has $1,000 to pay some of her debt, which cards should she pay if she wants to minimize future interest payments?
What is card B and card C?
The condition of an individual who survives off exactly what they have earned, with little or no savings cushion
What is paycheck to paycheck?
Buy now, pay later
What is a credit card?
Where do you go if you want to earn more money in your career?