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Introduction to Personal Finance
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Why should students learn about personal finance?
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Learning to manage money at this stage can eliminate financial mistakes and promote huge financial benefits for the future.
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jtaylor277
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Why should students learn about personal finance?
Learning to manage money at this stage can eliminate financial mistakes and promote huge financial benefits for the future.
Key components of financial planning are...
1. Write out a detailed plan for accomplishing your goals.
2. Replace money myths with money truths.
3. Regularly monitor and reassess your financial plan
How are Americans being outsmarted by banks and other lenders?
Credit is marketed so well that we desire to have it while completely dismissing the fact that interest rates and fees continue to destroy out financial well-being.
Personal financial success is primarily the result of:
managing your money behavior
Why does income alone not determine wealth?
How much money a person makes does not dictate his or her spending and saving behavior
What is a consequence of spending more than you make?
1. missed opportunity to save and invest
2. a cycle of debt
3. stress
The credit industry has not changed much since 1917.
False
When it comes to managing money, success is about ________% knowledge and ____________% behavior.
20, 80
The widespread financial insecurity of Americans is primarily because:
The saving rate of Americans is low and many borrow in order to spend more than they earn
The factors of becoming money smart are:
1. having knowledge of basic math
2. learning the language of money
3. managing your behavior with money
