Which of these outcomes become more likely for someone with strong personal finance skills? Check all that apply. |
A person can be more prepared to meet basic needs.A person can spend money thoughtfully to accumulate assets.A person can spend wisely to avoid financial problems. |
When studying finance or economic, the cost of a decision is also known as a(n) |
opportunity cost. |
How do short-term goals differ from long-term goals? |
Short-term goals are more immediate than long-term goals. |
Did Dan stay on budget? Why or why not? |
No, Dan should reduce his discretionary spending. |
Amanda wants to buy a new car. What questions should she ask before she makes the purchase? Check all that apply. |
Do I need this car or should I use my old car a little longer?Is this a reliable vehicle?Will buying this car prevent me from saving money to buy a house? |
Personal finance skills have the most significant impact on an individual’s |
quality of life |
A _______ is a plan in which an individual balances available resources and expenses. |
budget |
In American society, which of these is an example of a want? |
video games |
How do long-term goals differ from short-term goals? |
Long-term goals require more patience than short-term goals do. |
Which best describes what financial planning skills ultimately enable an individual to do? |
to prepare for the future |
What is included in an individual’s personal finances? Check all that apply. |
moneypropertyinvestment |
Planning to finance higher education helps people prepare for their financial future because it teaches them about |
funds management and loans. |
Which would be most helpful when considering a large expenditure that might require repeating payments? Check all that apply. |
creating a budget to consider future income and spendinglearning about opportunity cost |