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16 Cards in this Set
- Front
- Back
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The purpose of a budget is to plan your spending and saving, considering your income level, so that you can meet your _______. |
Needs and wants |
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Which of the following provides the most accurate definition of personal finance? |
All of the financial issues that can affect an individual |
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A(n) _________ involves specifying financial goals and describing in detail the spending financing, and investing plans needed to reach those goals. |
Personal Finance plan |
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Wages earned and allowance are two types of ________. |
Income |
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Which of the following is NOT a step in creating a budget? |
Establishing net worth |
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Which of the following is NOT a key component addressed by a solid financial plan? |
Education |
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Planning your spending, borrowing, and saving are all aspects of ______. |
Personal Financial planning |
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Net worth is determined by subtracting an individual’s liabilities from his or her _____. |
Assets |
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Which of the following is NOT a part of personal financial planning? |
Time management |
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The amount of money you have left over each month is most directly related to your plans to manage _____. |
Fixed Expenses |
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Which of the following is an online form of pretexting? |
Phishing
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Which of the following is a tax-sheltered retirement account? |
401K |
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When you make an investment, you make a tradeoff between _________ and _________. |
Risk and Return |
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On a bond's maturity date, the investor is paid _______. |
His or her initial investment |
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Which of the following is the formula for calculating present value? |
Present value (1. interest rate) number of years into past MULTIPLIED BY PRINCIPAL |
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Which of the following is most closely related to the idea that your money can work for you instead of you working for your money? |
The time value of money |
