Ch.3 Money Management Content Quiz

To make it easier to find important documents

To impress others with your organizational skills

To increase the value of your assets

To avoid paying taxes

Sort through personal financial records and label folders or boxes

Throw away all unnecessary documents

Keep all financial documents in a safe-deposit box

Scan all documents and store them on a computer

Increased security and protection against loss

Easy access to documents at all times

Lower cost compared to other storage options

Ability to store large items like furniture

begin big

start small

leave small

get bigger

In a home file

In a safe-deposit box

On her home computer

In a shoebox under her bed

To track income and expenses

To determine net worth

To evaluate financial progress

To calculate cash flow

Cash and items that can be quickly converted to cash

Land and structures owned by an individual

Personal possessions that are not real estate

Retirement accounts and securities

Short-term debts that have to be paid within one year

Debts that do not have to be fully repaid for at least a year

Money owed for longer than a month

Expenses that are not considered liabilities

The difference between income and expenses

The amount of money available for spending

The total value of assets

The difference between assets and liabilities

To track income and expenses

To determine net worth

To evaluate financial progress

To calculate cash flow