Careers Semester 1 Exam (Financial Management)

Name

Making the right choices with your money—managing your money—involves knowing how . .

• Planning, saving, spending, and investing will define your financial portfolio
• Consumer decisions will affect your accounts
• To make bank deposits using registers with the appropriate transactions listed
• Earning, budgeting, saving, spending, and giving affect your money

You should always make sure you have a…

• direct deposit
• budget
• credit line
• credit card

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

• how much income you have
• 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
• 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

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

• Exactly 20% below what
• 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 skill base 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, goals, and statements

What is the best way to avoid running out of money too quickly?

• you can make it a habit to plan and set goals for your money
• you can put your money in a safe place, like a bank, and not spend it.
• you can avoid making any purchases for the next 30 days
• you can invest in college