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4 Cards in this Set
- Front
- Back
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Define money management (p394) |
money management refers to the day-to-day financial activities associated with using limited income to satisfy unlimited needs and wants |
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What is a budget and what are the main purposes of a budget? (p399) |
A budget allows you to meet your personal goals with a system of saving and wise spending. Live within your income Make wise buying decisions Avoid credit problems Plan for financial emergencies Develop money management skills Achieve your financial goals |
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What are the 8 main categories commonly used in a budget? (p401) |
Savings Food Clothing Household Transportation Health and Personal Care Recreation and Education Gifts and Contributions |
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What should you look for when choosing a financial planner and what 3 questions should you ask your financial planner? (p415) |
A financial planner should have studied and passed examinations on various topics, including investments, insurance, taxes, real estate, and estate planning. What experience and training do you have? Are you willing to apply references from past clients? How are your fees determined? |
