| Question | Answer |
| What is personal finance | all financial decisions an individual or family must make in order to earn, budget, save and spend money.
|
When you assess your financial situation, what three things are you looking at | income, assets, and liabilities
| Your detailed plan for accomAplishing your financial goals is called your | budget
| People are either natural ______________ or natural _________________ | spenders and savers
| Prior to 1917, who did people get loans from? | loan sharks
| In the 1930s, what program was put in place to encourage banks to loan money? | The New Deal
| How many people live paycheck to paycheck? | 7 out of 10
| Average credit card debt of American households? | 15,000
| Average car loan debt? | 13,000
| Personal finance is 80% _______________ and 20% ____________. | behavior, head knowledge
| What negative emotions do teens express about money? | stress, frustration, distrust
| Americans are told that debt is _________________ | normal
| We are taught that money can buy _________________ | happiness
| At the survival level of money, people are _____________________ | spending all of their income and then some.
| At the comfort level of money, people have ________________________ | a small surplus that you save and invest
| At the secure level of money, people are _________________________ | having their money generate income for them.
| A fee that you pay to borrow money? | Interest
| An obligation of repayment owed by one party to a second party | debt
| Debt evidenced by a note, which specifies the principal amount, interest rate and date of repayment | loan |
