Test 1

Question 1

Step 1

Answer 1

1000 dollars in emergency fund (if income is under 20k only 500)

Question 2

Step 2

Answer 2

Pay off all debt except the house, utilizing the debt snowball

Question 3

Step 3

Answer 3

Three to six months expenses in savings

Question 4

Step 4

Answer 4

Invest 15% of your household income into Roth IRA’s and pretax retirement plans

Question 5

Step 5

Answer 5

College funding

Question 6

Step 6

Answer 6

Pay off your home early

Question 7

Step 7

Answer 7

Build wealth and give

Question 8

Saving must become a _________

Answer 8

Priority

Question 9

Give, save, then pay _______

Answer 9

Bills

Question 10

You must pay yourself ________

Answer 10

First

Question 11

Saving is about _______ and ___________

Answer 11

Peace; Contentment

Question 12

Building wealth is not evil or wrong. Money is _______

Answer 12

Amoral

Question 13

The only difference between saving and hoarding is __________

Answer 13

Attitude

Question 14

3 Basic reasons you should save

Answer 14

1) Emergency funds
2) Purchases
3) Wealth building

Question 15

_________ events do occur - except them

Answer 15

Unexpected

Question 16

__ to __ months of expenses in savings

Answer 16

3; 6

Question 17

A great place to keep your emergency fund is in a ________ _________ account from a mutual fund company

Answer 17

Money market

Question 18

Your emergency fund is not an ________ it is _________

Answer 18

Investment; Insurance

Question 19

Do not _______ this fund

Answer 19

Touch

Question 20

This emergency fund is your ______ savings priority

Answer 20

First

Question 21

Instead of _______ to purchase, pay cash by using a _______ fund aproach

Answer 21

Borrowing; Sinking

Question 22

___________ is key ingredient

Answer 22

Discipline

Question 23

Building wealth is a _______ not a ________

Answer 23

Marathon; Sprint

Question 24

Just _____ dollars per month, every month, from ages 25 to 65, at ____ will build to over __________

Answer 24

100; 12%; 1,176,000

Question 25

_______________ withdraws are a good way to build in discipline

Answer 25

Pre-Authorized Checking

Question 26

Compound interest is a mathematical ________

Answer 26

Explosion

Question 27

Rate of return or ________ rate, is important

Answer 27

Interest

Question 28

The flow of money in a family represents the ________ _______ under which that family operates

Answer 28

Value system

Question 29

Men: "It's boring and not __________ enough"

Answer 29

Sophisticated

Question 30

Women: "It's the most _________ key to our financial plan"

Answer 30

Important

Question 31

Men get good deals by _________

Answer 31

Negotiating

Question 32

Women get good deals by _________

Answer 32

Hunting

Question 33

Men lose ____-_______ because money usually represents a __________ to them

Answer 33

Self-esteem; scorecard

Question 34

Women face ____ or even _______ because, with women, money usually represent _______

Answer 34

Fear; terror; security

Question 35

The number one cause of divorce in America is _______ _______

Answer 35

Money fights

Question 36

When you agree on your value system, you will reach a ______ in your marriage that you can experience no other way

Answer 36

Unity

Question 37

Who makes the financial decision making?

Answer 37

Both of you

Question 38

The partner with the natural _____ can prepare the ______, but the decision making must be done by _______

Answer 38

Gift, budget, both

Question 39

The ____ likes doing the budget because it gives them control and they feel like they are taking care of loved ones.

Answer 39

Nerd

Question 40

The _____ _______ feels controlled, not cared for and can appear irresponsible to the nerd

Answer 40

Free spirit

Question 41

______ ________ and fatigue can lead to poor money management

Answer 41

Time poverty

Question 42

Beware of ________ buying, which can be brought on by _______ or even the " I owe it to _______" syndrome

Answer 42

Impulse, stress, myself

Question 43

A written plan gives the single person _________, self-accountability and ________

Answer 43

Empowerment; control

Question 44

Develop a _________ relationship

Answer 44

Accountability

Question 45

This is someone with whom to discuss your ______

Answer 45

Budget

Question 46

Accountability friends must love you enough to be brutally honest and promise to do so for your own good

Answer 46

.....

Question 47

Words are __________

Answer 47

Powerful

Question 48

If the Children are young use a clear _________ to save. Visual reinforcement is powerful

Answer 48

Container

Question 49

Use three envelopes for ages 5-12:

Answer 49

Giving, spending, and saving

Question 50

Somewhere around 13-15 years old, open a ________ __________ for the child and teach him/her how to run it by monthly reviews

Answer 50

Checking Account