Definitions
refers to all the finanical decisions an individual or family must make in order to earn, budget, save and spend money over time
Personal Finance
you dont have to spend more _____________ than you make just to look good in front of your friends
Money
$500 emergency fund
emergencies or emergency fund
At this level of financial well-being, you are spending every dollar you earn.
a person or organization that buys/uses good or services
Consumer
when you manage money well, you'll experience deeper ______________
Satisfaction
The second foundation is ___________
get out of debt
The second basic reason for saving money is ______
purchases
Comfort
a debt evidenced by a "note", which specifies the principal amount, interest rate and date of repayment
personal finance is ____% behavior & _____% head knowledge
80; 20
The third foundation is _________
pay cash for car
The third basic reason for saving money is ______
building wealth
At this level of financial well-being, you arrange your finances in such a way that your wealth now generates your income.
Secure
the granting of a long and the creation of a debt; any form of deferred payment
Credit
Remember "___________" is broke
Normal
The fourth foundation is _____________
pay cash for college
what are some purchases which you would use a sinking fund?
a car; a prom dress; spring break; Christmas presents
You must know whether whether you're a saver or a spender. This is your money _______________.
Personality
saving money over time for a large purchase
sinking fund
Knowing the _____________ of money allows you to tell your money what to do.
The fifth foundation is ____________
build wealth and give it away
_________ is the key ingredient when it comes to wealth building
What is the purpose of having an emergency fund?
Answers will vary.