Personal Finance Chapter Nine

What is simply a spending plan that we create to help manage our money?

What is a record of income and expenditures for a particular period?

What type of budget involves placing money into envelopes?

The first step in creating a budget is to identify your expenses.

What budgeting option is best used only with limited resources and expenses?

What is a reason for keeping organized financial records?

What is true about computer files of financial records?

Only individuals that make over $50,000 per year should worry about creating a cash flow statement.

Liquid assets are those that cannot be easily converted to cash.

What types of records are best kept in safe deposit boxes?

Net worth is the difference between your assets and your liabilities.

A credit card bill is best kept in which of the following places?

What is a characteristic of a successful budget?

What is an assessment of what you own and what you owe?

Personal financial statements are a good way of measuring our current finances and giving us information about our financial activities.