Personal Finance Chapter One
Describe some of the mistakes Americans often make when it comes to money.
Using debt instead of saving and paying cash, not having an emergency fund, not keeping a monthly budget, and failing to plan, for retirement
Explain why understanding your money personality is important when it comes to developing a money plan that’s right for you.
Understanding your personal strengths and weaknesses when it comes to money will help you, manage your spending and saving behavior
Does the History of Credit and Consumerism segment make you view the use of credit differently than you did before? Explain your answer.
Answers will vary here. Make sure it your own thoughts about what you learned.
Explain how marketing can affect your decisions when it comes to spending money.
We are bombarded with marketing ads that push us to buy things., The marketing also encourages us to “buy now, and pay later”.
Does managing your money well mean that you can’t have fun with your money? Explain your answer
No. A well-written budget will allow for both spending and saving.