9: Personal Money Management

Check all choices which are considered acceptable uses of debt by most financial experts.

• To buy a new car

• To buy a house

• To pay for college

• To start a business

• To go on a dream vacation

This is a written plan for how income will be used before it is received.

• mortgage

• debt

• interest

• budget

• expenditure

Money coming in to a household or business is called __________.

Check all of the benefits of saving money.

• Less stress

• Higher Social Security checks

• Cheaper insurance rates

• Ability to pursue education, travel, help others, start a business

• Easier to avoid debt

The more money you borrow . . . (check all that apply)

• the lower your interest rate

• the lower your credit rating

• the higher your credit rating

• the higher your interest rate

Some employers will fire you if you have too much ________.

If you cannot repay your debt, you risk _______________.

"Financial ___________ " refers to the peace of mind you have when you don't have to worry about how you are going to pay your bills since you have managed your money so well.

Tags

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.7.4

CCSS.RL.8.4

To win with money, you must _________ less than you earn.

A mortgage is a special type of loan for a _____________.