JA Personal Finance Sessions 1-4 Review

Personal finance will...

• Help you stay out of debt.

• Affect your quality of life and be the basis of how you get what you want and need.

• Make you super rich.

• Be the class that you had not choice in taking in 8th grade.

Income is...

• Money earned through work.

• Money made on a hourly basis.

• Money made only on a salary basis.

• Money earned or received, including wages or gifts.

What is necessary for people to achieve goals such as homes, cars, and education?

• Money

• A spouse

• Parents

• Having good luck

________________ is the practice of determining and managing a person's financial needs and goals for the future.

• Income

• Budget

• Personal Finance

• Money

True/False: To have good personal finance you have to make over 100,000 a year.

• True

• False

Money paid to an employee for work done, usually given on an hourly, daily, or piecework basis.

• Salary

• Income

• Pay check

• Wages

Money paid to an employee for work done, usually given biweekly based on an annual rate, regardless of work done.

• Salary

• Wages

• Income

• Stipend

How much more money do people with a bachelors degree earn over a life time than those without a bachelors degree?

• None, they make the same.

• 1,000,000

• People with a bachelors makes less than those without.

• 200,000

A spending plan for managing money during a given period of time.

• Plan

• Credit

• Saving

• Budget

Money spent to buy or do something.

• Expense

• Needs

• Wants

• Values