Principles of Human Services: Final Exam Part 1

Finances are assets, or resources, in the form of money.

• True

• False

People who live paycheck to paycheck are more likely to...

• spend a little money

• spend whatever they earn

When you take control of your finances...

• you spend all that you can without a plan

• you set financial goals and make healthy financial decisions

The government agency responsible for creating & tracking all of the money in the United States

• FTS - Federal Tracking System

• FRS- Federal Reserve System

What is currency?

• type of money

• a plan for your money

Money is anything you can exchange for goods and services.

• True

• False

Debit cards are just like a loan.

• True

• False

Debit cards are just like cash.

• True

• False

Checks are written orders to a bank to transfer funds from your account to someone else’s.

• True

• False

A want is a fundamental requirement, such as food, oxygen, and water.

• True

• False