Finance for Young Entrepreneurs

Which is one is an example of a PERSONAL expense?

• Software

• Equipment

• Payroll

• Housing

What is the Golden Financial Rule for Entrepreneurs?

• Invest everything

• Separate your business money from your own money

• Make money while you sleep

• Gamble

Which one is an example of a BUSINESS expense?

• Equipment

• Transportation

• Housing

• Food

How many months should my Emergency Fund be if I'm an entrepreneur?

• 1 month

• 2-3 months

• 4-5 months

• 6+ months

What is the Golden Financial Rule?

• Never lose money

• Retire when you earn $1M

• Gotta spend money to make money

• Don't spend more than you make

What does the 20% mean in the 50-30-20 budget?

• Wants

• Savings

• Needs

• Entertainment