Why is it important to list and prioritize your short-, mid-, and long-term goals ahead of time?

Which of the following should an emergency fund be used to pay for?

Sasha's phone is a few years old, keeps shutting off intermittently, and won't hold a charge for more than a couple of hours. She has a small cleaning business and needs to be able to communicate with her clients. She decides to save for a new phone. What type of financial goal is this?

● Amari and his four best friends decided they would save up and get tickets to see their favorite basketball team play in a nearby city for spring break of their senior year of high school. During his junior year, he started saving money for the big trip. What type of financial goal is this?

Isaac went to visit his cousin Stephan who just returned from his junior year of college study abroad program. Stephan's photos and stories of his experiences sounded amazing. Even though Isaac is only a high school freshman, he decided right away to go home and start saving for his own future trip abroad. What type of financial goal is this?

What is the main reason you should start saving for retirement as early as possible?

How do you ensure that your retirement account is able to grow by taking advantage of compound interest?

What is it called when you earn interest on both the money you deposit, plus any interest you earned previously?

Seema is heading into her junior year of high school and received a large financial gift from her grandmother. She kind of wants to buy some new clothes, but she has a financial goal of saving for her college education, but she also wants to be able to buy a used car to get her to and from campus. What should Seema do with the money she's received?

● Tasha just started a new job as a part-time receptionist in an office. She hopes to save up money for college. However, she needs to buy professional outfits that would be appropriate for greeting all of the clients who visit the office. What should Tasha do when she gets her first check?

● Khalil works in the gig economy, making deliveries for local stores and restaurants. He's trying to save money so he can go back to college next semester. However, his car stopped working and needs a few repairs. What should Khalil do?

Why does compound interest not help when you're saving money for a short-term financial goal?

Starting amount: $500 Years to invest: 40 Additional contributions: $100 per month Average annual rate of return: 7.6% compounded annually Total amount invested:48,500 Ending investment balance: $289,279.40 This demonstrates why it's important to______.

Starting amount: $100 Years to invest: 40 Additional contributions: $5 per month Average annual rate of return: 8% compounded annually Total amount invested: $2,500 Ending investment balance: $17,715.84 What should the person saving try to do?

Every month, Noah takes home around $2,000. He uses $1,000 to cover his share of rent, utilities, transportation, and groceries. He uses around $650 on entertainment, eating out with friends, and other incidentals. The other $350, he divides between saving for emergencies and paying his student loans. What money management strategy is Noah using?

● Sara is a server at a restaurant and most of her pay is in cash. She's used to dealing with cash and has a system where she divides her money into different envelopes each month. She has one envelope for rent, one for groceries, one for gas, etc. At the end of each month, she takes one envelope for savings and deposits it into her savings account. What money management strategy is Sara using?

What should all budgeting methods have in common?

Which of the following describes an expense that should be covered by an emergency savings?

● Which of the following should not be paid for with an emergency savings fund?

In the 50-30-20 budgeting method, saving for emergency expenses would fall under which category?

● Why is putting even a small amount into savings from every paycheck a smart money habit?

Which of the following is an example of unnecessary debt?

● If you find that your budget is falling short each months, what smart actions could you take?

Lara received $900 in one paycheck. If she follows the 50-30-20 method, how much money will she put toward her wants?

Stevie earned $600 this week. She used $100 toward paying off her credit card and $20 went into savings, for a total of $120, which is 20% of her income. What money managing system is she likely using?

Stefan is working on budgeting his money better and makes a list of the ways he spends money. He writes down, "fixed bills, variable bills, savings, debts, and wants." He then starts figuring out how much money he should put into each. What money managing system is he likely using?

What percentage of your income should you use towards savings?

Paying down debts such as credit card balances is considered

20% of your paycheck should go toward

The __________ you start saving, the ____________ you will have to save each month to reach your retirement goals.

Which type of retirement account does your employer contribute to?

What's the difference between a traditional IRA and a Roth IRA?

How can buying a house be considered "good debt"?

Why is buying a car considered "bad debt"?

If you are looking to use good debt build equity, which of the following would you purchase?

Which of the following invest your after-tax dollars?

What is the difference between 401(k) and 403(b) accounts

How are IRAs different from 401(k), 403(b), and pension accounts?

What is not considered an advantage to owning a home?

A down payment, property tax, and maintenance costs are all considerations you need to make when _______.

Which of the following are the pros of buying a home?

1. Builds equity

2. Property taxes

3. Tax benefits

4. Down payment

Three friends are all taking out loans. Essie is taking out student loans for college, Jalin is taking out a car loan for a new car, and Nicole is getting a mortgage to buy a house. Which of the friends are opening up good debt?

Olivia has a bit of money saved and is considering using it as a down payment toward one of the following choices. If Olivia wants to only have good debt, which of the following should she avoid?

Which of the following is an example of good debt?

Which of the following is an example of good debt?

Ali wants to buy a new laptop. He writes down a goal of saving $1,200. What detail is this goal missing?

Zoya's friends invited her to go on a trip abroad during summer vacation. She's excited to go and writes down a goal of saving enough money over the next five months. What detail is this goal missing?

Mateo wants to buy a new guitar and amp that will cost about $2,500. He works part time at a cafe and brings home around $500 per week. He tells his friends he plans to buy the guitar in about two months. What detail of this goal is missing?

Kim delivers groceries for a living and needs to buy new tires for her car soon. Which choice would be the best for her to make so without disrupting any of her other financial goals?

Benjamin's moped will need to be replaced soon. Which choice would be the worst for him to make that would disrupt his other financial goals?

When is using a credit card to cover an emergency expense a good idea and won't cost you any interest?

Paying yourself first, sticking to a budget, pacing yourself, living within your means, and knowing where your cash goes are all _______.

Why should you keep track of how much money you spend on items like food, gas, and going out each week?

A goal to save money for a new saxophone is ________.

A measurable savings goal spells out ________.

A time-based savings goal describes ________.

I will save $10,000 for the down payment of a house by saving $500 per month for the next 20 months. Which part of a SMART goal is this statement most likely missing?

I will save money for retirement by depositing a little money from each paycheck over the next forty years. Which part of a SMART goal is this statement most likely missing?

I will save money to buy a used car. Why is this not a good example of a SMART goal?