Personal Finance 1

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The purchasing power of a dollar 20 years ago

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was more than it is today

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Things like food and shelter are

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necessary and needs

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a brand new video game that just came out is a

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want

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Saving money for the dance this Saturday is a

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short term goal

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What does a budget do?

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helps keep you out of debt, helps you properly manage your money, is financially responsible

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Your house payment is a

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fixed cost

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If you have $1000 left after paying all of your bills you have a

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surplus

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What is a step to setting up a budget? Options: determining your exact income, determining your expenses, eliminating wasteful spending, all of these

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all of these

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Situations that can cause financial stress are usually

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unexpected

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If you are running in the red, you are

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in debt