This is a Review Over Foundations in Personal Finance

University:
California State University, Northridge
Course:
FIN 302 | Personal Finance
Academic year:

2022
Views:

275

Pages:

2
Author:

rehinhea0c

This is a review over foundations in personal finance Question negative net worth financial literacy consumer interest credit personal finance asset when talking about personal finances, always remember that you will either manage your money or IN order to get clarity on your money goals and have a powerful reminder to keep you on track, you need to the percentage of Americans who are living paycheck to paycheck is almost Personal finance is 20% head knowledge and 80% living on less than you make means the total student loan debt owed in the U.S. is currently about almost half of Americans report having less then The Five Foundations provide a simple action plan to help you win with ____________ The problem with everyone's money is the person in the __________ When it comes to money, its hard to discipline and have ________ Self control is _______ Take debt _________ have a _______ start investing _______ have a _________ live on _________ stay away from _________ There are two measures of wealth: your net worth is you want a high income, but it is more important to have a First foundation: Second foundation: Third foundation: Fourth foundation: Fifth foundation: Generosity is not just about giving money being generous means you are willing to give Answer The amount of your liabilities is larger than the value of your assets. having the knowledge and skills to manage your personal finances Makes the choices about what they buy a fee charged for using borrowed money for a purchase the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. relates to all of the different money decisions you make each day. Anything you own that has value The lack of it will always manage you write down our goal and plan. 80% behavior you should spend less money than you make each month $1.5 trillion $1,000 in in savings money mirrior self control emotional maturity off of the table savings accound early plan less than you make debt income and Net worth what you own minus what you owe. high networth save $500 for an emergency fund get out of debt and stay out of debt Pay cash for your car Pay cash for college build wealth and be outrageously generious it's a character quality more than what is expected. When it comes to money, people fall under two categories: A spender or a saver