PF Ch 1 Review

All of the following are factors that easily influence decisions EXCEPT

• Peers 
• family
• values
• all are factors

A value can be described as:

• something basic to survive
• something you desire for comfort in life
• willing to give it up for future benefit
• belief / idea you consider important

Which of the following is considered a need:

• toilet paper
• brand new expensive car
• travel coffee mug
• expensive hoodie

any money you receive such as an allowance

• cash flow 
• income
• spending log
• checkbook

expense you pay every month but the amount varies

• fixed expense
• variable expense
• periodic expense
• income

saving a certain amount of money to be used later for financial goals

• emergency fund
• fixed expense
• pay yourself first  PYF
• cash flow

saving money to have on hand for unexpected expenses and events

• pay yourself first PYF
• emergency fund
• fixed expense
• income

SMART goal that needs to be achieved in 13 months

• short-term goal
• medium-term goal
• long-term goal
• financial goal

Which SMART criteria:  Answers who, what, and where

• Specific
• Measurable
• Attainable
• Relevant

Which SMART criteria:  Answers how much change needs to occur

• Specific
• Measurable
• Attainable
• Relevant