Financial Management

What is financial planning?

• How you can spend your money the fastest way possible

• Managing money so that you can meet short and long term financial goals

• a fancy term for budgeting

What is a SHORT term goal?

• A financial goal you can reach within 1 year or less than 12 months

• A financial goal you can achieve in more than a year ( over 12 months)

Select all of the LONG term goals listed below:

• Buying a house

• Buying a pair of shoes

• Buying a car

• Paying for college

Karen makes $1,000 a month working at Bojangles. She pays $450 in rent. How much money does she have per month after paying her rent?

• $500

• $450

• $550

There are 12 months in a year. How many years is 48 months?

• 3

• 4

• 5

Jose wants to buy a new pair of Air Jordan 11's. They cost $300. He wants to buy them in 4 months. How much money should he save each month in order to buy the shoes?

• $100

• $50

• $75

True or False:

Income is money you earn

• True

• False

True or False:

Expenses are things you spend money on

• True

• False

Select the TWO types of expenses

• Must have's

• Needs

• Wants

• Income

Convert 35% to a decimal

• 3.5

• 35.00

• .35