Ch 1 Test - Intro to Personal Finance

Front

Making the right choices with your money—managing your money—involves knowing how . . .

Back

Earning, budgeting, saving, spending, and giving affect your money

Front

Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal.

Back

False

Front

You should always make sure you have a…

Back

Budget

Front

To gain an understanding of your personal finances, you should know . . .

Back

Where you stand financially, how much income you have, what goals you want to set, and how you’ll reach those goals

Front

What is The First Foundation?

Back

Save a $500 emergency fund.

Front

Being a spender has many more positives than being a saver.

Back

False

Front

Personal finance is all the financial decisions a(n) _______ must make in order to earn, budget, save, spend, and give money over time.

Back

Individual or family

Front

Avoiding debt can lead to financial freedom and hope.

Back

True

Front

After World War I, the demand for products increased, and people began getting credit without loan sharks. Because of this, credit...

Back

Started to become more socially acceptable

Front

A money principle to keep in mind is to live on ________ you make.

Back

Less than