A) establish your financial goals.
B) pay off all your credit cards.
C) buy a cool car then begin saving money.
D) get a good job.
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A) you are not concerned with paying off your current debt.
B) you will try to save a small amount because that is better than saving nothing at all.
C) you will buy a new car because your best friend just bought one.
D) you believe that 'retail therapy' is the answer to your occasional depression.
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A) $8.00
B) $128.00
C) $112.00
D) $160.00
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A) Should you buy Apple stock with savings?
B) Should you borrow on your home equity loan to buy Apple stock?
C) Should you take a loan and buy a car?
D) Should you take a 15- or 30-year mortgage to buy a house?
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A) So you have something to refer to every time you get paid
B) So you have a high likelihood of achieving them
C) If the goal is too onerous, you will be unwilling to follow the plan.
D) If you fail, you will be discouraged and lose interest in planning.
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A) Your financial position changes over time as does your personal, job, and family situation.
B) As you get older you will want to lower your goals.
C) So that you remember the goals you were striving for.
D) You may decide enjoying consumption now is more important than saving for retirement years.
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A) saving, investing, and asset valuation.
B) spending, saving, and credit card financing.
C) spending, financing, and investment plans.
D) saving and spending only.
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A) stocks and bonds.
B) mutual funds.
C) real estate.
D) lottery tickets.
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A) Whether to obtain a 3-year versus 4-year loan on a new car
B) Whether to obtain a 15-year versus 30-year loan on a new home
C) Whether to pay off an existing loan
D) Whether to invest income in a savings account or in a stock
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A) When he or she first starts receiving a salary
B) At 45-50 years of age
C) At 50-55 years of age
D) At 55-60 years of age
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A) Insurance payments are a cash outflow.
B) Investing in stock is a cash outflow.
C) Paying off a loan early is not an outflow since you are reducing a debt.
D) Income is a cash inflow.
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A) money needed for major consumer purchases.
B) what you give up or forego as a result of making a decision.
C) the amount paid for taxes when a purchase is made.
D) evaluating different alternatives for financial decisions.
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A) oversave.
B) overspend.
C) save just the right amount.
D) all of these
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A) reducing expenses.
B) increasing income.
C) spending most of their income.
D) saving as much of their income as possible.
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A) protects your wealth against unnecessary taxes.
B) shelters your wealth against all taxes.
C) ensures that your wealth is distributed in the manner that you determine.
D) A and C are correct.
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