Financial Peace Final Study Guide

The percentage of Americans who are living paycheck to paycheck is almost:

• 60%

• 70%

• 80%

• 90%

Personal Finance is about 20% knowledge about money. What is the other 80%?

• Cash in the bank.

• Behavior

• Experience

• Relationships

Living on less that you make means not...

• Buying a car at 16

• Going to college after high school

• Budgeting to eat out with friends.

• Spending all of your money

The total student loan debt owed in the US is currently about how much?

• $1.5 Million

• $1.5 Billion

• $1.5 Trillion

• $1.5 Quadrillion

Almost half of all Americans report having less than _____ in savings.

• $500

• $1000

• $1500

• $2000

The Five Foundations provide a simple ___ to help you win with money.

• action plan

• guide for investing

• suggestion

• educational course

Although the majority of Americans think budgeting is important, about ____ of Americans actually use a budget.

• 75%

• 50%

• 23%

• 35%

Which of the following is NOT a component of a budget?

• credit score

• saving

• income

• giving

What are the Four Walls?

• Food, Shelter, Utilities, Transportation

• Food, Utilities, Transportation, College

• Cell phone bills, car insurance, shelter, money for movies

• Utilities, college funds, restaurants, car insurance

How many categories should you have in your budget?

• 15 or more

• no limit, as many as you need to keep your budget accurate

• no more than 10

• at least 3