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1. A good example of living in the past is _____.

A. Looking forward to a vacation
B. Creating a disagreement with your neighbor next door
C. Thinking about the job from which you were fired
D. Dreaming about what we have in our closets

2. Living in the past is a good way to prepare for your future and helps you to make financial decisions.

True
False

3. An essential part of your financial planning is to set aside enough savings to cover unexpected costs of illness, job layoffs, and other emergencies.

True
False

4. Some of the highest known monthly expenses you will probably have during a lifetime include a ________. Choose all that apply.

boat or recreational vehicle payment
car payment
student loan
house payment

5. What should be your ultimate goal when managing your finances? Explain.

6. Explain what is meant by having power over your money.

7. Why should you set up an emergency fund? How much money should be in an emergency fund? What should the fund be used for?

8. State and explain the five principles of money.

9. An expense you can acquire and then choose to exclude overtime would be ______.

A.the utility bill
B. taxes
C. credit card debt
D. out of pocket medical and dental costs

10. If you have difficulty meeting your known monthly expenses, a good thing to do is _____. (Choose all that apply.)

make more money
charge them on a low-interest credit card
choose not to pay them for one month and then catch up on them when your next paycheck arrives
reduce your known monthly expenses

11. It’s important to let yourself see the truth about what you have right now.

True
False

12. Your ultimate financial goal should be to ______.

A. invest in new, up to date articles of clothing on a monthly basis
B. go on a two-week vacation annually
C. buy a house with a three-stall garage
D. reduce and eliminate your known expenses

13. If you have problems spending within your income, what should you do? Explain.

14. Huge financial challenges can be created by ______. Choose all that apply.

birthday parties
an illness or death of a parent
a divorce
a layoff

15. The Fourth Principle Money states that you must first spend money on what you want in life.

True
False

I WILL GIVE BRAINIEST!!!

Sagot :

Answer:

1. Looking forward to a vacation

2. true

3. true

14. Spend Less Money Than You Bring In

Less Money Than You Bring InOften you just need to make some minor changes to your budget to get it to be effective. If you want to keep the process simple, try a method called "backward budgeting." Write down your income, then start subtracting each expense you pay each month.

15. false

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