Getting Good with Money Chapters 1-3

Tiffany's parents immigrated to the United States from what country

• Barbadoes

• Ghana

• Nigeria

• Columbia

Tiffany downfall into financial peril was mainly due to

• Borrowing against her mortgage

• Taking a cash advance from her credit card

• Taking out a personal loan

• Maxing out a credit card

At the beginning of the book, Tiffany has managed to save a ton of money. She loses her money due to a scam. What was the scam?

• She decided to become a property investor.

• She purchased counterfeit items from online boutiques.

• Her "friend" tells her to invest in a business using money from her credit card.

• She opened up a financial planning business through the United Way.

How long did it take for Tiffany to get out of debt?

• 10 years

• 1 year

• 5 years

• 7 years

What was Tiffany's career before becoming a financial planner?

• An accountant

• A teacher

• A nonprofit employee

• A bank teller

According to "Get Good with Money" the definition of financial wholeness is

• when all aspects of your financial life are working together for your greatest good, your biggest benefit, and your richest life.

• When your checking account and savings account are balanced.

• When you save all of your money

• When you have financial accountability

Having multiple savings accounts in one place is a strategic way to accumulate wealth

• True

• False

Answer explanation

Having multiple savings accounts in different banks helps to deter excessive spending.

When you think about your expenses which expense is not in your control

• Utility Bills (based on usage)

• Entertainment (example- grooming)

• Bills (example mortgage)

• Groceries

Answer explanation

Utility bills fluctuate more than regular bills.

Examples of ways that you can reduce your expenses include

• Skip online shopping

• Cancel unused subscriptions

• Making a menu list before grocery shopping

• Rein in eating out

Each person should strive to have two types of savings accounts which include

• Emergency

• Goals

• Checking

• Non-profit