Personal Finance

Front

What does it mean to PYF?

Back

Immediately put 20% of your paycheck in your savings when you get paid

Front

A(n) _______ is anything you own that has value

Back

Asset

Front

_________ is what you owe

Back

Liability

Front

What is the formula for finding your Net Worth?

Back

Asset - Liabilities = Net Worth

Front

________ are retirement accounts paid into by the individual

Back

IRA

Front

_________ are retirement accounts set up by employers

Back

401ks

Front

_________ are retirement accounts that are not taxed until the money is taken out

Back

Roth IRAs

Front

________ is when the cost of goods increase

Back

Inflation

Front

Who is most negatively affected by inflation? Options: People lending out money (creditors), People on a fixed income, People trying to save, All answers are correct

Back

All answers are correct

Front

All of the following are examples of liabilities except________: Mortgages, Auto Loans, Student Loans

Back

Investments