Tricks of the Trade
This is how people traded before money was invented
What is bartering?
The two most negative things people feel about money.
What are shame and isolation?
The government agency that collects taxes
What is the IRS?
You get money in, you save some, cover your needs and have fun with the rest
This is what you use to spend money from your checking account
What is a debit card?
This percentage of businesses fail in the first 5 years
What is 50%
This has skyrocketed in the last 60 years, while wages have decreased.
What is cost of living?
The feeling that we will never have enough
What is the Scarcity Mindset?
This is how you protect your assets in case something goes wrong?
What is insurance?
The 2 checking accounts that everyone should have
What are needs and wants?
Passing money and wisdom down to those that come after you
What is generational wealth
The increase in the prices and goods of services that we buy
What is Inflation
When you can't cover your bills without consistent wages.
What is living paycheck to paycheck?
The two types of spenders people are born as
What are tightwad and spendthrift?
What is a credit union?
The 2 savings accounts everyone should have
What are Emergency Fund and Cashflow/ST Savings
This investment vehicle gives you ownership of a company
What is a stock?
The main reason we use credit, not having enough money to cover the first half of the month
The top 1% of people owning over 46% of the wealth
What is classism?
What is Life Evaluation
Time, energy, attention, money, nature, family, are all examples of this
What is wealth
What is rent?
The two most important factors that influence your credit score
What is payment history and amount owed?
The two types of assets, one goes up over time and the other goes down
What are Appreciating and Depreciating?
You spend the amount of money you think you have. This is why we spend more on CCs than with cash
What is available funds
We get to a certain level of happiness and then even back out
What is Hedonic Adaptation?
Choosing one option means you give up another
What is opportunity cost
Goals, Awareness, and Passion
The golden rule of investing
What is "The Best Investment You Can Make Is In Yourself"?
The three requirements to have a successful side hustle
What are talents, passions, and problem solving