The Four Walls
The 1st wall begins with the letter F
Food
List three types of priorities
Examples: Rent, mortgage, transportation, child care, groceries, utilities
What percent of Americans are living paycheck to paycheck.
78%
Save up for _____ purchases.
big
My Money Five: EA_N
Earn
The 2nd wall begins with the letter U
Utilities
What is the 50/30/20 Rule?
50% on need, 30 % on wants, 20% savings
True or False: At its base financial literacy is the awareness of money.
True
Live on (Less/More) Than You Make and Save
Less
My Money Five: SP_ND
SPEND
The 3rd wall begins with the letter S.
Shelter
List 3 types of wants
Example: newest up to date cell phone, ice cream, digital game, etc
True or False: Wants are NOT absolutely essential.
True
Live ___ your means
below
My Money Five: S_VE & IN_EST
Save and Invest
The 4th wall begins with the letter T.
Transportation
Making debt repayments beyond minimum payments is an example of a?
Saving
____ funds are a part of saving.
Emergency
Invest and (Build/Lose) Wealth
Build
My Money Five: BO__ __OW
BORROW
The knowledge and skills needed to understand and manage money is called?
Financial Literacy
List 3 ways to save
Examples: budget, start an emergency fund, stop living with debt, sell stuff, get a temporary job or start a side hustle, look for things to cut
What does S.M.A.R.T. goal stand for?
Specific, Measurable, Attainable, Realistic, Timely
____ are those bills that you absolutely must pay.
Needs
My Money Five: PRO_ECT
PROTECT