money and relationship Flashcards
which of the following is false:
- When handling money, it can be difficult to balance who you are with what you should do
- When it comes to relating with others about money, it’s important to also consider their values.
- Being aware of your money personality will help you create a money plan that works for you.
- If you value freedom and spontaneity, you’re more likely to be a saver.
If you value freedom and spontaneity, you’re more likely to be a saver.
Since men and women are different, who is supposed to do the financial decision-making in a marriage?
both spouses
Communicating with others about money is entirely a matter of the other person hearing and following your wishes. (t/f)
false
A written plan gives the single person empowerment, self -accountability, and control.(t/f)
true
The quality or state of being responsible, liable, or answerable
accountability
Communication, teamwork, and consistency are all important elements in handling family finances.(t/f)
true
Cooperative and coordinated effort on the part of a group of persons acting together in the interest of a common goal
teamwok
The flow of money in a family represents the ___________ under which that family operates.
value system
Which of the following can be a challenge when managing money on your own as a young single adult?
-impusle buying due to lack of an accountability partner
-time proverty and fatigue
-not keeping a written budget
ALL OF THE ABOVE
It is easier to manage money when you are accountable to no one.(t/f)
false
A situation in which a person is lacking time, which leads to stress
time proverty
A person’s priorities, beliefs and standards that affect how he or she views the world
value system
If money fights are a problem in a marriage, then money management provides an opportunity to improve a marriage(t/f)
true
When it comes to communicating with others about money, you should not:
manipulate
The result of achievement toward which effort is directed
goal
In a marriage, you are financially accountable to each other(t/f)
true
A great way for a young person to avoid making money mistakes is to:
seek advice from a trusted adult
If you value security, you are more likely to
save money
a confidence and satisfaction in onself
self esteem
Men tend to get good deals by:
negotiating
Which of the following statements regarding marriage and money is false?
It is okay to hide purchases from your spouse as long as you have the cash to pay for it.
the number-one cause of divorce in America is:
money fights
When communicating with your parents about money, you should:
-communicate your wants,need and money goals
-be honesty
-good listener
ALL OF THE ABOVE
When married couples do not share goals and values in how they manage money, which of the following can occur?
-divorce
-conflict
-stress
ALL OF THE ABOVE
A person who is picky about budgeting and details
nerd
Discussing important financial matters with household members can reduce conflict(t/f)
true
The goal in communicating with your parents about money is to become responsible and independent with the money you have.(t/f)
true
When managing money, one’s value system is of no importance(t/f)
false
You should communicate your money goals with your parents and others close to you because:
It will allow others to help you by providing accountability and encouragement along the way
A process by which information is exchanged between individuals
communication
Whether you agree with your parents or not regarding money, you should always respect and honor their decisions.(t/f)
true
A person who thinks that everything will work out fine and typically hates to deal with the details
free-spirit
For women, the _______________ is the most important key to financial security.
emergency fund
The state of being free from danger or threat
security
Which of the following is not a rule for the ʺbudget committee meetingʺ?
the meeting should go on for however long it takes in order to come up with a complex and detailed budget
