BUDGETING
Name the 4 components of Financial Health
What is Spending, Saving, Borrowing and Budgeting?
Create this to track your income, expenses, help control spending, and reach financial goals.
What is a budget?
Financial experts recommend you build an emergency fund that covers this many months' worth of expenses.
What is 3-6?
This percentage of business meals can be deducted as a business expense.
What is 50%
The 3 major credit reporting companies
What are Experian, Transunion and Equifax?
This document identifies someone to make medical decisions if your unable to do so on your own
What is a Health Care (Medical) Power of Attorney?
A person who carries out the wishes of a will
What is an Executor?
__________ ____________ loans can be a strategic solution to overcome bad borrowing decisions.
What is Debt Consolidation?
This document provides specific instructions regarding distribution of assets and identifies the Executor
What is a Will?
List two great ways to save on your grocery costs.
What is (1) make a grocery list and stick to it, (2) don't shop on an empty stomach, (3) use coupons?
Assets minus liabilities (debts) equal this.
What is financial net worth?
This is the best way to improve your credit score.
What is make your payments on time?
In the Debt Snow Ball strategy, which debt balance should get paid off first?
What is the one with the lowest balance?
What is the process of spreading your investments across different asset classes, such as stocks, bonds, and real estate, to minimize exposure to market fluctuations?
What is Diversification?
What is the debt reduction strategy where you pay off debt in order of smallest balance to largest balance, gaining momentum as you knock out each balance?
What is Debt Snowball?
What should you do with the money you save from paying off your debts?
What is put it in savings?
According to Dave Ramsey, how much should you have in your starter Emergency Fund?
What is $1,000?