Personal Financial Planning

Money that remains after a person has paid all of their expenses is

• income

• discretionary income

• data analysis

• cash flow statement

An item of value that is owned, such as cash, real estate, and bonds is

• net worth

• a liability

• an asset

• disposable income

Medical bills, credit cards, and charge accounts are examples of

• long-term liablities

• current liablities

• assets

• current assets

Information stored on your computer should be

• password protected

• secure

• organized

• all answers are correct

Financial trouble can be avoided by

• living within your means

• keeping debt under control

• taking responsibility for your life

• all answers are correct

If you have an abundance of money and assets, you are considered

• needy

• wealthy

• destitute

• lucky

Allowance, a paycheck, gifts, and gains from an investment are examples of

• income

• expenses

• wealth

• philanthropy

When considering your financial situation you should consider

• long-term goals

• short-term goals

• medium-term goals

• all answers are correct

An amount spent for an item that a person could do without is a(n)

• variable expense

• pay yourself first

• discretionary expense

• emergency expense

Studying data with the the goal of discovering new information to aid decision making is

• data analysis

• cash flow statment

• recordkeeping

• money management software