Budget, Cash Flow, Net Worth Review

What is an asset?

• What you are giving up

• Costs that go up and down each month

• Money and items of value that you own

• Debts that you owe

Cash Inflows are:

• All of your expenses

• Income from your job, investments, and other sources

• An internet scam

• Standards for which progress is measured

A benchmark is a plan for how you will pay for your personal goals.

• True

• False

Cash Outflows are:

• Everything coming in

• Expenses, or items for which you must spend money

• Giving up one option for another

• A professional consultant

Charitable giving is the act of donating money or time to a cause in which you believe.

• True

• False

What are soft-copy formats of your financial info. stored on your computer?

• Fixed Expenses

• Phishing

• Manual Records

• Electronic Records

The process of converting data to a coded form is:

• Liabilities

• Encryption

• Trade-off

• Identity Theft

What is the difference between financial goals and financial plans?

• There is no difference

• They are exact opposites. One is personal, one is financial.

• F Goals- are the act of donating money, F Plans- are steps for your personal goals.

• F Goals- are plans for your personal goals, F Plans- are plans for pers and fin goals, along with steps and timeline.

Fixed Expenses are:

• Everything you bring in during the month

• Costs that do not change each month

• A professional consultant who provides financial advice

• Costs that can go up and down each month

What is identity theft?

• The use of your personal info by someone else without permission to commit fraud or other crimes

• A common Internet scam that uses email messages to deceive you

• Things people desire for reasons beyond survival and basic comfort

• Stealing your fake ID