Math for Finance Semester Test REVIEW

Front

What is the truth about loaning money to a friend or relative?

Back

It is considered a truth that loaning money to a friend or relative can be seen as helping them.

Front

Can you get a good deal on a new car?

Back

This is a myth; good deals on new cars are often misleading.

Front

What can a written plan remove in a relationship?

Back

A written plan can remove many of the money fights in a relationship.

Front

What type of card can become a budget buster if not managed?

Back

A debit card can become a budget buster if not managed properly.

Front

Where should you keep your emergency fund?

Back

You should keep your emergency fund in a separate savings account.

Front

What is the purpose of an emergency fund?

Back

An emergency fund is meant to cover unexpected expenses.

Front

What is a budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period.

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money up to a limit.

Front

What is the importance of tracking expenses?

Back

Tracking expenses helps you understand your spending habits and stay within your budget.

Front

What does it mean to live within your means?

Back

Living within your means means not spending more money than you earn.