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Lelechka [254]
2 years ago
15

Benjamin Franklin said, “Beware of little expenses. A small leak will sink a great ship. ” What does this mean to a person tryin

g to build financial stability? How would you restate this saying so that it would be clearer to someone trying to grow a budget?
How would you place the order of these steps to build a budget? 1=first 2=the middle step 3=last
______Analyze cash flow and look for ways to increase your income and decrease your expenses....

______Keep track of your spending...

______Identify your income and your expenses....



What are they, and how would you explain their meaning? Give one example of each.

23.Fixed expenses

________________________________________________________________________



Flexible expenses
________________________________________________________________________



Money that comes to you from: Various jobs or work, like cutting grass or babysitting wages,
Full- or part-time employment, Allowances, Odd jobs, Interest and dividends, Other sources, including tips. Is known as your
_________________.



Where does All the money go?

If you are in the habit of buying the 4 for $4 meal special at the local famous fast food restaurant every day of the week for lunch how much would this add up over time? It might taste good going down but what might you be able to save for if you had all that cash in a savings account?



1 day 1 week 1 month 1 year 5 years 10 years
# of Days 26a 27a 28a 29a 30a 31a
4 for$4 Meal 26b 27b 28b 29b 30b 31b


Identify the LIE about Credit cards....
A. Are used to purchase goods and services.

B. Takes money from your checking account when used to pay for purchases.

C. Are subject to interest charges if the balance is not paid in full each month.



Credit Verses Debit

Which card requires you to have enough money at the time you pay for something?
Which card's balance can increase and accrue charges if you do not pay the entire amount each month?
Which card generally offers purchase protections against faulty goods?
Which card(s) may have fees associated with them?
Which card allows you to pay for unexpected emergencies when you do not have enough money?


What are the outcomes to be expected with overspending on your credit card? You need at least two outcomes for full credit




Debit to Income Ratio

After adding your total income, dividing the total monthly bills by the total income, and convert that to a decimal….What would you advise these individuals who are contemplating a large purchase?

Total Income

Total Monthly Bills

Percentage (divide by 100)

Billy $4000

$2800

?

TiQuan $5000

$4000

?

Nadaja $3000

$1000

?



39 (Billy). ________________________________



40 (TiQuan) ______________________________



41 (Nadaja) ______________________________







Which payment arrangement has the worst deal or the higher interest rate you must pay between the instalment loan or the rent to own arrangement?








What three things would you likely need an installment loan to purchase?


Explain how your credit rating would affect your interest rate applied to your installment loan.








Simply put, Finance is the management of ______________________.








Name 2 examples of items that fall under the category of a long-term financial goal.






47.Name 2 examples of items that fall under the category of a short-term financial goal.









48.. Which of the following statements about investing is FALSE?

On average, investing money in the stock market earns a higher return than putting money in a savings account.
Investing is best for long-term financial goals, like paying for retirement.
Investing is a guaranteed way to grow your money.
Investing is riskier than putting money in a savings account.






This is needed To Calculate Simple Interest (Interest = Principal x Rate x Time or I = P x R x T)

Remember to add the Simple Interest to the Principle to get the total to be paid.

Principle

Rate

Time

Interest

Total to be paid

$10,000

15%

5 years

49a

49b

$5,000

5%

8 years

50a

50b

is the purpose of financial insurance agencies?
Business
1 answer:
Hunter-Best [27]2 years ago
5 0

Answer: n or f

Explanation:

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