Decision Making
Goals
Budget
Managing Your Money
Cashless Society
100

Knowledge of facts, concepts, and technological tools that are basic to being smart about money.

What is financial literacy?

100

The basic principles that guide our actions and beliefs.

What are values?

100

Needs to be adjusted for changing needs and goals in different stages of life.

Financial Planning

100

Currency, federal reserve notes (dollars), not backed by the gold sitting in a vault.

What is fiat money?

100

Using anything other than cash to pay for goods and services.

What is cashless society?

200

The study of how individuals and nations make choices about ways to use scarce resources to satisfy needs and wants.

What is economics?

200

Need to be realistic, have a target date, and if possible, an associated cost.

What are goals?

200

Expenses that remain CONSTANT month-to-month.

What is fixed expense?

200

Where paper money is made in the United States.

What is Bureau of Engraving and Printing?

200

Convenience, no risk and easier currency exchange.

What are advantages of cashless society?

300

You want to take marketing and graphic design - but you can’t take both?

What is opportunity cost?

300

Determine exactly when you will know that the goal has been met.

What is measurable?

300

Expenses where the amount can change month-to-month.

What is a variable expense?

300

Government agency that collects taxes.

What is Internal Revenue Services (IRS)?

300

Reduced privacy, exposure to cyber theft and higher risk of impulse spending

What are negatives of a cashless society?

400

Things that entice or motivate a buying decision.

What is incentives?

400

Giving up one thing for another.

What is trade-off?

400

The amount of income left over after basic expenses have been paid.

What is discretionary income?

400

Where coins are made in the United States.

What is U.S. Mint?

400

Capital gains, food stamps and interest earned on bank deposit

What are sources of cash?

500

The inability to satisfy all wants at the same time.

What is scarcity?

500

The amount of a good or service that consumers are willing and able to buy at a certain price.

What is demand?

500

Always set aside money every paycheck to go straight into savings.

What is pay yourself first?

500

The Bureau of Engraving and Printing, The U.S. Mint and The Internal Revenue Service are part of this agency.

What is The U.S. Treasury?

500

Exchanging goods or services with an individual to satisfy needs and wants without the exchange of money.

What is barter?