Chapter 1 review

What percentage of personal finance is behavior?

• 80%

• 20%

• 10%

• 90%

What percentage of personal finance is head knowledge?

• 30%

• 80%

• 50%

• 20%

Debt is owing money to anyone for any reason

• True

• False

Whenever you receive money as a gift or for work, take_____ and put it away for savings.

• All of it

• some of it

• none of it

• Exactly 90%

Spenders will naturally ______ money.

• Collect

• Spend

• Save

• Hoard

Savers will ______ save money.

• Never

• Forget to

• Naturally

• Conditionally

______ people are not fun to be around.

• Entertaining

• Compassionate

• Thoughtful

• Selfish

_______ on credit is a fee you pay on top of the money you already owe.

• Interest

• Mortgage

• Savings

• Equity

Using a credit card means you ______ to buy stuff.

• Barter clothing

• Use debt

• Use cash

• Never decide

This plan for your money is called a ______.

• Lesson

• Organizer

• Schedule

• Budget