Personal Finance Final Exam 2023 - HAMILTON

Making the right choices with your money involves knowing how

• planning, saving, spending, and investing will define your financial portfolio.

• to make bank deposits using registers with the appropriate transactions listed.

• consumer decisions will affect your accounts.

• earning, budgeting, saving, spending, and giving affect your money,

You should always make sure that you have a

• budget.

• credit line.

• direct deposit.

• credit card.

To gain an understanding of your personal finances, you should know

• your financial goals.

• where you stand financially, how much income you have, what goals you want to set, and how you'll reach those goals.

• how much income you have.

• your investment portfolio and your financial advisors' contact information.

What is the First Foundation?

• Pay cash for college.

• Build wealth and give.

• Save a $500 emergency fund.

• Open a checking account.

Personal finance is all the financial decisions a(n) _____ must make in order to earn, budget, save, spend, and give money over time.

• individual or family

• company or organization

• individual or company

• bank

Avoiding debt can lead to financial freedom and hope.

• TRUE

• FALSE

A money principle to keep in mind is to live on _____ you make.

• exactly 20% below

• more than

• the same as

• less than

To know your net worth, subtract your liabilities from your

• other liabilities.

• net income.

• previous net worth.

• assets.

What is financial literacy?

• The content provided in bank statements for consumers.

• The knowledge and skills necessary for people to be informed consumers and manage their finances effectively.

• The curriculum provided to college students about finances for their degrees.

• The skills to read financial documents for personal finance classes.

An important money principle to consider is that you should _____ and _____ your money.

• save; invest

• invest; lay out

• spend; invest

• invest; endow