PaxPat Day 5 Personal Finance Prep

Financial (a)   is the ability to use knowledge and skills to make effective and informed money management decisions. (8 Letters)

Money plays a critical role in our overall well-being.

• True

• False

1. All of the following are basic principles of personal finance, EXCEPT:

• • Use credit as much as possible

• • Spend less than you earn

• • Make your money work for you

• • Protect your money

1. Financial decision making generally fits into three broad categories. What are they?

• • Spending, Saving, Investing

• • Spending, Giving, Receiving

• • Income, Expenses, Emergencies

• • Spending, Saving, Purchases

1. Money used for a purchase now in hopes of a higher return in the future is called (a)   . (9 Letters)

1. A (a)   is a belief or practice of what is important, desirable and worthwhile to an individual. (5 Letters)

1. Values can be influenced by family, friends, peers, teachers, and culture.

• True

• False

1. Wants are things that are desired, whereas (a)   are items necessary for life. (5 Letters)

A cell phone and a computer are considered (a)   .

Income is the money a person receives, while the money spent on things like food and housing are (a)