Friday, March 11, 2016

Day 40 - Review for Test

    Win in the Margins with extra income:
PostTest: Zero-based Budget: 
    1. What is a Cash Flow plans?
    2. What are some of the basic cash flows for a family?

  • What does "If you aim at nothing, you'll hit it every time" mean?
  • What are the 5 Foundations of Saving?
  • How much should you keep in an emergency fund now? Later?
  • What type of account should you keep your emergency fund in?
  • What is the difference between Saving and Hoarding?
  • How do you learn how to save?
  • What does it take to become an effective saver?
  • What percentage of families will face a major, unexpected financial event within a 10-year period?
  • How does the phrase, "Death by 1000 Cuts" relate to saving?
  • What is Murphy's Law?
  • What is a sinking fund, how does it work?
  • Explain how money = power when it comes to shopping.
  • What are the keys to wealth building?
  • What book did David Bach write that you need to read?
  • What is compounding?
  • How does time relate to compounding?
  • What is GDP?
  • What is a Recession?
  • What is an Economic Depression?
  • How does Supply and Demand work?
  • What is a budget?
  • When should a budget be prepared?
  • How should you prepare your budget?
  • What is the purpose of preparing a budget?
  • How often should it be reviewed?
  • What types of expenses are in a typical budget?
  • What is usually the largest expense?
  • What should you budget for first?
  • List three different categories of savings?
  • How much should you put into each savings category?
  • What is the difference between a fixed and variable expense?
  • What is a discretionary expense?
  • What does David Bach think you should do to make it easier to follow your budget?
  • What is it called when you try to take out more money than in actually have in your checking account?
  • What is the difference between a debit and credit card? 
  • What is it called when you review your bank statement against what you recorded in your check register?
  • What is it called when you create a budget that accounts for every dollar you earn or spend in advance?

    EverFi:
  • Consumer Protection (2/5/16)
  • Investing (2/19/16)
  • Saving (3/4/16)
  • Banking (3/18/16)
  • Payment Types (4/8/16)
  • Credit Scores (4/15/16)
  • Higher Education (4/22/16)
  • Renting vs. Owning (4/29/16)
  • Insurance and Taxes (5/6/16)

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