Financial Coach Dan - Personal Finance Introduction

Expensive houses and new cars are a true indication of wealth

• True

• False

Which of the following reason(s) is credit marketed so heavily to consumers in the United States?

• Credit products are extremely profitable

• Consumers have bought in to the buy now, pay later way of living

• Credit laws have been relaxed to offer alternatives to loan shark type enterprises.

• All of the above

Having debt keeps you from building wealth

• True

• False

Credit card lenders, student loan providers and others make it hard for you to get into debt because they are looking out for your best interest

• True

• False

Which of the following is true when you spend more than you make

• Stress

• Missed opportunity to save and invest

• Cycle of debt

• All of the above

A monthly fee paid to a lender based on the amount borrowed

• Bills

• Equity

• Interest

• Payroll

When it comes to personal finance, success is ___% knowledge and ___% behavior

• 100, 0

• 50, 50

• 70, 30

• 20, 80

A person or organization that uses a product or service

• User

• Consumer

• Servicer

• Producer

The granting of a loan and the creation of debt

• Debit

• Credit

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

• Financial Freedom

• Financial Literacy

• Financial Peace

• Financial Plan