Flashcards in chapter 12 Deck (35)
If you commit to following the Five Foundations, you will have more money to give to others(t/f)
Which of the following is a way that giving to others can benefit you?
all of the above
The practice of providing help and advice to people in a community before they have to ask for it
One of the most important and rewarding things you can do is give(t/f)
John D. Rockefeller was a businessman in the early 1900s who is remembered only for his wealth.(t/f)
Someone who gives money or goods to an organization
An organization set up to provide help and raise money for those in need
A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer’s income bracket
Traits or qualities that represent an individual’s highest priorities, deeply held beliefs and motivating forces; one’s guiding principles
To give money, food or other help to a country or organization that needs it
When considering donating to charity
you can start giving your time, money or talents now
The Five Foundations:
Are the beginner steps for establishing and maintaining financial peace
Which of the following statements is false?
All charitable organizations qualify for a charitable contribution deduction
Delaying the act of giving will make giving less likely in your future.(t/f)
Means ʺlove of humanityʺ; identifying and exercising one’s values in giving and volunteering
What percentage of American households give to charity?
One financial benefit of giving money to charity is that your contribution may be tax deductible(t/f)
Your primary motivation for giving should be
The simple desire to help others
Giving should be:
First in your budget
Money is not the only way to give.(t/f)
The Fifth Foundation is Build Wealth and:
Your budget should include all of the following except:
lending money to friends
There is nothing that distinguishes your values and interests from those of other teenagers.(t/f)
The Fifth Foundation
build wealth and give
Is it better to give to many charities or just a few?
just a few
Which of the following should be a consideration when selecting a nonprofit to which you’d like to contribute?
all of the above
When we give to others, we become less self-focused(t/f)
Anything handed down from the past; something that someone has achieved that continues to exist after they are gone
You can be remembered for positive or negative attributes.(t/f)