Chapter 11 Online Notes: Managing Finances Resources

Question 1

Family management is

Answer 1

the science or practice of managing money or other assist

Question 2

What are five types of incomes are

Answer 2

1) Discretionary
2) Disposable
3) Goals
4) Psychic
5) Real income

Question 3

Define psychic income

Answer 3

Is one’s perception of feelings about income

Question 4

As one’s income increases so does what

Answer 4

Expenses

Question 5

Net worth is determined by what

Answer 5

subtracting what is owed from what is owned

Question 6

Liquidity is

Answer 6

the speed and ease of retrieving cash or turning another type of investment into cash

Question 7

One mistake people make regarding life insurance is

Answer 7

only insuring the family breadwinner

Question 8

Budgets can be broken down into what categories

Answer 8

fixed and flexible

Question 9

Budgets need to be

Answer 9

reviewed and updated frequently

Question 10

Goods produced at home are products and services that exist outside of what

Answer 10

the formal economy

Question 11

____5 of couples polled consider their disagreement about money to be serious

Answer 11

47%

Question 12

Women hold __ to __% of top executive jobs in the largest corporations around the world

Answer 12

1 to 3%

Question 13

In Manitoba the average cost to raise a child from birth to 18 is _____

Answer 13

$167,000

Question 14

Are boys or girls more expensive to raise

Answer 14

boys

Question 15

Parents typically spend around ______ to raise a child from birth to age 1

Answer 15

$10,000

Question 16

Each subsequent child of the same gender is _______

Answer 16

less expensive

Question 17

What is fertility said to be limited by now a days

Answer 17

cost of childcare

Question 18

Canadian ratio of household debt to person income was _____% in 1980 and has now passed ____%

Answer 18

66% and 150%

Question 19

The average amount owed upon graduation is roughly ______ with 6% of loan holders owing over _____

Answer 19

$20,000

$50,000

Question 20

____$ of Canadians don’t know their current interest rate charged by their credit card company

Answer 20

41%

Question 21

There were how many credit cards in Canada in 2006. averaging to how many per Canadian over the age of 18

Answer 21

74 million

3 every Canadian over 18

Question 22

Canadians currently save only ____% of their disposable income

Answer 22

1.2%

Question 23

The average principal residence debt carried by Canadian families is

Answer 23

$106,700

Question 24

The average credit card and installment debt carried by Canadian families is

Answer 24

$4,900

Question 25

The average student loans owed by Canadian families is

Answer 25

$12,700

Question 26

The average vehicle loan owed by Canadian families is

Answer 26

$13,400

Question 27

There is ____ debt and ___ debt

Answer 27

Good and bad

Question 28

The highest credit card interest rate is ____%

Answer 28

39%

Question 29

LICO is

Answer 29

Low-income cut offs are used as an informal definition of poverty in Canada

Question 30

What are 5 groups of Canadians that are most at risk to live in poverty

Answer 30

a) Seniors (especially women)
b) Children
c) Aboriginals
d) Persons with disabilities
e) Female-headed lone parent families

Question 31

Being a child in a female-headed lone parent family means they have a __ in ___ chance of living in poverty

Answer 31

1 in 4

Question 32

In 2009, ____% of families with children where at least one member worked full time were living in poverty

Answer 32

49%

Question 33

In Winnipeg ____% of people who used Winnipeg Harvest food bank were those who work full or part time

Answer 33

18%

Question 34

Define Food insecurity

Answer 34

Having access to insufficient, safe and nutritious food that meets one’s dietary needs and food preferences for an active and healthy life

Question 35

____% of families with children experience food insecurity in Canada

Answer 35

10%

Question 36

Winnipeg food bank provided emergency food assistance to roughly ______ in 2012 and ____% of their clients were children

Answer 36

58,000 and 51%