Personal Finance Quiz

A _________ is a plan for the use of money over time based on goals, expenses, and expected income.

• Budget

• Forecast

• Schedule

• Blueprint

A _________ is a current or future financial obligation.

• Debt

• Asset

• Investment

• Liability

A _________ _________ is a set amount that must be paid each budget period.

Describe two benefits of charitable giving?

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What is a cashflow statement used for?

• Tracking investment performance

• Documenting charitable contributions

• Monitoring income and expenses

• Planning retirement savings

What are the five stages of the family life cycle?

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Give 3 examples of Income.

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Assets are divided into two categories, on a net worth statement, what are they called?

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According to our notes, which 3 financial records are important to keep?

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What are the 3 types of financial goals we discussed in Chapter 2?

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