futres Flashcards
What is The Fifth Foundation?
The Fifth Foundation: Build wealth and be outrageously generous
An important money principle to consider is that you should _____ and _____ your money.
You are either only a natural saver or a natural spender. You cannot have a balance of both.
As a single adult, you should .
Being a spender has many more positives than being a saver.
What is the best way to avoid running out of money too quickly?
What is The First Foundation?
Your money personality impacts . . .
To know your net worth, subtract your liabilities from your _____.
Savers have a tendency to be . . .
What does living paycheck to paycheck mean?
Personal finance is 20% _______ and 80% _______.
Without any debt, you can be outrageously _______.
When you set financial goals, they should be . .
Using credit has not always been a socially accepted practice, but it has become . . .
Normal in American culture
gain an understanding of your personal finances, you should know . . .
Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal.
Personal finance is all the financial decisions a(n) _______ must make in order to earn, budget, save, spend, and give money over time.
A money principle to keep in mind is to live on _______ you make.
Avoiding debt can lead to financial freedom and hope.
What are The Five Foundations?
In 1972, what association made borrowing money to attend college much easier than it had been?
Making the right choices with your money—managing your money—involves knowing how . . .
Franklin D. Roosevelt passed the New Deal because of the Great Depression in the 1930s. What was the purpose of this program?
It is possible to pay for college with cash.
If your assets total more than your liabilities, you will have a(n) _____ net worth.
After World War I, the demand for products increased, and people began getting credit without loan sharks. Because of this, credit…
A _____ financial goal takes up to two years to reach.
You should always make sure you have a…
What is financial literacy?
