Personal Finance - Chapter 1 Test

Why is personal finance dependent upon your behavior?

How are assets and liabilities connected to net worth?

Contrast the differences between short-, medium-, and long-term financial goals.

What is financial literacy?

Why should you be aware of whether you are a saver or a spender?

Identify The Five Foundations and describe each of them. Then, evaluate how they will help you manage your money right now.

Explain how your money personality affects your spending behavior. Use examples from the textbook and personal experiences as support for your explanation.