SPECIFIC .
MEASURABLE .
ATTAINABLE.
REALIZABLE .
TIME BOUND
100
How should you divide your spending money?
Into your NEEDS and WANTS.
100
What are credit cards made of?
Plastic.
100
Are debit cards made diffrently than cedit cards?
No, they are both plastic cards but with diffrent purposes.
100
What is fiat money?
Money that is authorized by law of a sovereign land. Like our U.S. dollars.
200
What is a short term goal?
A goal set and made to be accomplished in less than a year time span.
200
What is an impule purchase?
This is a purchase that is made without premeditated thought.
200
Are credit cards transfering real money?
No, they are not. Credit cards don't pay with money but with credit that you have to pay off from your credit card company monthly.
200
What do you use to buy items with a debit card?
Your own money, debit cards take money from your account.
200
Gold, silver, gems are examples of what?
Commodity money.
300
Define long term goals.
They are goals made to be accomplished within a year or more.
300
Should you organize your money?
Yes, in organizing your money into two catorogies such as "Spendable" and "Savings" you will be able to spend money while still saving a perentage of it.
300
If I never use my credit card do I still have monthly payments?
No, you only pay your credit card when you charge it and borrow money,paying back the amount you used plus intrest. There is also an annual fee for having the credit card.
300
Can I overspend with a debit card?
No, you can only use the money you already have.
300
Define currency.
System of money exchange in quality or through an established medium of trade.
400
Should you make goals that are difficult to reach, requiring hard work, effort, and planning?
YES! Anything you can think of is achievable if you follow the S.M.A.R.T. plan.
400
Should you NEVER make an impulse buy?
No impulse buys are acceptable with reason such as cost, how often you do it, and quality of the product. Sometimes oppurtunities arrive that are too good to resist.
400
So I can buy anything with a credit card?
Basically you can buy anything, even expensive purchases but you must pay the credit card company back!
400
What does PIN stand for?
Personal Identification Number.
400
What is the purpose of money?
Money is used for exhange of goods and services. The amount of money something is worth depends on it's value.
500
Are goals required in success?
Yes goals are milestones of success, leading up to what you truly wish to accomplish.
500
Should you ever spend your savings?
Yes, sometimes there are emergincies that require more money than expected. Saving money can help you for future events, and by saving you can spend it on those moments.
500
What should you do with unwanted credit cards that come through the mail?
Cut them up and throw away so no one can use it and ruin your credit.
500
Should you write down your PIN and keep it in your wallet?
No, memmorize it. Do not write it down or keep it where others can take it and use it.
500
Gold, silver, paper checks, and bank notes are examples of what?