PF Semester 2 Final part 1 23-24

Why is budgeting so important?

• It gives you control of your money and sets you up for financial success in the future.

• It helps you brush up on your math skills.

• It's a good way to make sure all your money is spent by the end of the month.

• It helps you figure out the best way to justify purchases that maybe aren't necessary.

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

What is The First Foundation?

• Build wealth and give.

• Save a $500 emergency fund.

• Open a checking account.

• Pay cash for college.

Why is tracking your expenses throughout the month important?

• It really isn't that important in the long run.

• It helps you pull money from your savings to spend in other categories.

• It allows you to delete categories you don't like.

• It gives you insight into whether you're sticking to the budget you set.

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Personal finance is 20%_____________ and 80%_____________ .

• Cause; effect

• Head knowledge; behavior

• Behavior; head knowledge

• Reactions; behaviors

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

What are the Four Walls?

• Cell phone bill, car insurance, shelter, and money for the movies

• Utilities, college fund, restaurants, and car insurance

• Food, utilities, shelter, and transportation

• Cell phone bill, car insurance, shelter, and money for the movies

What does a budget show you?

• How much you need to save

• How much money you plan to come in and go out during the month

• How much money you need to earn

• How much money you spent last month

Tags

CCSS.HSA.SSE.A.1

The interest rate on a savings account determines . . .

• How quickly your money will grow over time

• How much money you need to have to open the account

• The amount of time your money will be in

  the account

• How much you will pay the bank to manage the account

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

Compound interest is earned at a fixed rate, while ______________ is an average based on an investment's past performance.

• Interest rate

• Inflation

• Compound growth

• The principal

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

The main reasons for saving your hard-earned money are . . .

• Emergencies, large purchases, and wealth

  building

• Paying for your dream home, buying your

  dream car, and going on your dream vacation

• Buying gifts, donating to charities, and

  building up a college fund for your kids

• Investing, indulging, and influencing

What is the Third Foundation?

• Create a monthly budget.

• Save for retirement.

• Pay cash for college.

• Pay cash for car.