MONEY MANAGEMENT

Question 1

refers to the process utilized to record and administer an individual’s, household’s, or organization’s finances. The term can also refer more narrowly to investment management and portfolio management.

Answer 1

Money management

Question 2

Money management refers to the processes of _________, ______, _________, ________, or otherwise overseeing the capital usage of an individual or group.

Answer 2

budgeting, saving, investing, spending,

Question 3

Money management cycle in order

Answer 3

Earning/income generating stage, spending, saving, investing

Question 4

suggests an individual spends __% of their after-tax income on essential expenditures. __% of their income should be spent on the things that the person wants. The remaining __% should be saved or invested for future financial goals.

Answer 4

50, 20,30 BUDGET RULE (or 50, 30 ,20 diko na alam kay ms. dont worry multiple choice naman)

Question 5

Poor money management can lead to ______ __ ____ and ________ ______.

Answer 5

cycles of debt and financial strain.

Question 6

How do we manage personal finances: Determining one’s net worth is an important element of managing personal finances.

Answer 6

Assess Your Financial Situation

Question 7

is a good way to set financial priorities like saving for retirement or a vacation and managing debt.

Answer 7

Budget

Question 8

It is important to choose a ____ that will help you accomplish your financial goals.

Answer 8

Bank

Question 9

Paying _____ on time is an important part of managing personal finances

Answer 9

Taxes

Question 10

It is important to take control of debt. Although most people have some kind of debt, such as a car loan or a mortgage, high interest debt can lead to disastrous consequences.

Answer 10

Manage debt

Question 11

Part of financial management includes a plan to generate income from investments.

Answer 11

Invest your money

Question 12

Planning for __________ is essential to ensuring a comfortable life in the future.

Answer 12

retirement

Question 13

A ____ can ensure that property and cash are dispersed to the appropriate heirs.

Answer 13

will

Question 14

Those who have just started working or in the early part of their respective careers. Typical assets that any individual or household acquires in this stage include their own car or house.

Answer 14

Accumulation phase

Question 15

Those in this phase already have the necessary assets required of a typical household and have settled most of their outstanding liabilities.

Answer 15

Consolidation phase

Question 16

Retired individuals belong to this phase. Their main source of income comes from their pension although they also benefit the returns of their existing investments.

Answer 16

Spending phase

Question 17

This stage focuses on how the individual provides support to the family members, friends, or any charitable institution

Answer 17

Gifting phase

Question 18

Enumerate the individual life cycle in order

Answer 18

Accumulation phase
Consolidation phase
Spending phase
Gifting phase