Foundations in Personal Finance Chapter 3 Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| show | A cash flow plan. Every dollar you make is assigned to a specific category / expense at the beginning of each month or pay period.
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| Cash Flow Statement | show 🗑
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| Carbon Check | show 🗑
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| show | A series of envelopes, divided into pre-determined categories; works great for managing spending on things that don't normally have a fixed monthly expense, like eating out, entertainment and buying clothes
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| Impulse Purchase | show 🗑
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| Overdraft | show 🗑
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| Reconcile | show 🗑
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| Zero- based budget | show 🗑
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| show | Automated Teller Machine card which allows you to make transactions in Automated Teller Machines.
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| Currency | show 🗑
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| Debit Card | show 🗑
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| show | Self-control used in directing behavior. The key to wealth building is being consistent (self-disciplined) over time.
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| show | Refusing to give up.
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| Hoarding | show 🗑
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| Checking and Savings | show 🗑
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| show | Costs (expenses) that do not change from month to month
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| show | Expenses that can change each month like money spent on eating out or entertainment.
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| show | to take money out of your bank account
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| Income | show 🗑
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| Compound Interest | show 🗑
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| show | Five hundred dollars in readily available cash to be used only in the event of an emergency; the goal of the First Foundation.
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| show | Percentage paid to a le4nder for the use of borrowed money (in debt); percentage earned on invested principal (in investing).
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| Five Foundations | show 🗑
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| show | Saving money over time for a large purchase; divide the total amount of money needed by the number of months (when the money is needed)
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| show | Save a $500 emergency fund.
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| Foundations 2 | show 🗑
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| show | Pay Cash For car
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| Foundations 4 | show 🗑
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| show | Build Wealth and Give
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| Three things to save for: | show 🗑
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| Emergency | show 🗑
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| show | Inflation is a persistent rise in the price of goods and services over a period of time or the persistent decline in purchasing power of money.
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| Interest Building Account | show 🗑
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| Principal | show 🗑
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To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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