Chapter 1
Chapter 2
Chapter 3
Chapter 4
Coach Hensley
100
List all 5 foundations in order
1) Save a $500 emergency fund.
2) Get out and stay out of debt.
3) Pay Cash for your car.
4) Pay cash for college.
5) Building wealth and give.
100
Money flows two ways. What are those two ways?
In and out
100
Murphy's law tells us what?
If it can go wrong, it will.
100
What are three marketing tactics you need to watch out for?
Offering a low- or zero-interest introductory rate
Requiring only the minimum monthly payments
Offering cash back and other rewards
100
Where did Coach Hensley graduate High School? Where did he graduate college?
High School: Enterprise High School
College: Birmingham Southern College
200
You are either one of these two types of money personalities
Natural Spender
Natural Saver
200
What are the four types of expenses
Fixed
Variable
Intermittent
Discretionary (Non-essential)
200
What are three basic reasons to save?
1) Emergencies
2) Large Purchases
3) Wealth Building
200
What are the four types of credit we covered?
1) Secured Credit
2) Unsecured Credit
3) Revolving Credit
4) Installment Credit
200
What is Coach Hensley's life quote he lives by?
Why fit in when you were born to stand out
300
What are 5 things to consider when setting solid financial goals?
1) Specific
2) Measurable
3) Time-Sensitive
4) Yours
5) Written
300
What are the three steps to building a zero-based budget?
1) Add up your monthly income.
2) Write down every expense.
3) Subtract your expenses from your income to equal zero.
300
What are the three things to consider when it comes to an emergency?
1) Is it unexpected?
2) Is it necessary?
3) Is it urgent?
300
FICO scores are important to have True or False?
False
300
What is Coach Hensley Favorite place to vacation
Disney World
400
During which Historical event caused the US as a whole to go into a great deal of debt? During which Historical event caused the US as a whole to get out of debt.
Go into Debt: Great Depression
Get out of Debt: WWII
400
What is the definition of a Cash-Flow Statement?
A record that summarizes all of the income and outgoing (spending) over a certain time period.
400
"Zero-percent interest" or "12 months same-as-cash" are examples of what?
Interest rates
400
What are the seven common Credit Card Fees?
1) Annual fee
2) Balance transfer fee
3) Cash Advance fee
4) Finance charge
5) late payment fees
6) Over-limit fee
7) Return payment fee
400
What Christmas movie did this quote come from:
"Maybe Christmas," he thought, "doesn't come from a store. Maybe Christmas...perhaps...Means a little bit more!"
Grinch
500
List the three types of Financial Goals.
Short-Term (up to 2 years)
Medium-Term ( 2 to 5 years)
Long-Term ( 5 to 5+ years)
500
In Chapter 2 we mentioned irregular income. What is irregular income and what was one type of irregular income which goes off a percentage of total sales
Irregular income- Income that comes in at different amounts or at different times, or both
Commission
500
The story of Jack & Black is an example of what?
Compound Growth
500
Car is an example of what type of equity.
Negative equity
500
What Christmas movie did this quote come from:
"We're gonna have the hap-hap-happiest Christmas"
Christmas Vacation
600
Remember Personal finance is _____ % Behavior and _____% Head Knowledge
80% Behavior and 20% Head Knowledge
600
What are the 5 things we talked about on how to stick with a budget?
1) keep it real
2) think weekly
3) check your social calendar
4) learn to say no (or not now)
5) find a budget buddy
600
Use the Compound Interest Formula and compute manually: (ROUND TO NEAREST WHOLE NUMBER):
Annual Intrest rate: 5%
Present Value:$250
Years you leave it invested: 60 years.
Number of times per year the interest is compounded:1
FV= 250(1+0.05/1)^(1(60)
FV= 250(1+0.05)^(1(60)
FV= 250(1.05)^(1(60)
FV= 250(1.05)^(60)
FV= 250(11)
FV=$4,750
600
How many steps are there in the debt snowball method? List them.
1) List your debt from smallest to largest.
2) attack the smallest debt with a vengence.
3) Every time you pay off a debt, add the amount you were paying on that debt to your next debt payment.
4) Repeat this method and plow your way through debt.
600
Which 1 of the 4 Disney parks is shown below.
Hollywood studios, EPCOT, Magic Kingdom, Animal Kingdom
Hollywood studios