wome KEY te
Unit 2 Study Guide - Personal amity dinance
——
Statement of Sheek
Financial Position AKA | Balance
aman Equation: Ageete -_Ligbilities = Net Worth
prone ur B Inclally woh ab a
vatmenkss | Tels You: How. ruck you. ate, ia ly
Important Because: 1+ +ejj6 You if Your dept ie +0 big
I this & negative, what should youdo? Egen Mae: or owe Jeo
neonfomen | aKa. | Cach Pow Staternent }
Berries ofroape Equation: Incame, _- Eipeners = NetGaifl y Neb Loess
NM | telts You: How mich You are: epetcling and on what~
Period,
rents 4
ro Eee tant Hall _give you an idea oF a
reba ‘air teil Neti Spend oe K which Wall help al
Htyou have a het los, what srould you ase earn more of
Daas] m
Tells You: os feat ee Plan +o aa eee Your money in the
Imectant Boca: Aue to pfotize. ur peni
‘and male an parses eg San
if you have created your ne nee lover neve es
should youdo? Gaye tt of spend Ht
What is this money called? discretionary =peKe income
. (surpive)
Ifyou have more expenses than income what is this called?
What shout you dot EEE
re you do: Sencing
eam more or pend leos Shar ee
Ifvent avernancl
TaudgeList 3 instances when your budget may need
isons why is important to have
Name 3 recisons why is imp fo be adjusted or changed
fingnetal
less 7 = hoe. Your jlo = Dleregendin:
fate igs ou want ie er crate = hok eau
2 beter caving if be cco nings enough.
iow do needs affect your budget?
ad rere ively 40 achieve | Jou amie protnes Sr epee
Ts, SEV ae |i ige eae
‘aleinalae SMART ard wonse!! Wa
Realietic: eo Write thet de
Reale Stal condone.
Give an example of a financial decision you
a
might have fo make on a budget.
Buy a-tmk of gae or go 40
the movies.
‘What is the opporiunily cost ofthis decion@
Whichever you don + choose,
eye)
‘What are some annual expenses you may
have? Meuraree.,-tultion, gifts,
Vacation ;Car regione
How should you factor annual costs into your
budget? Add alll annual coste ane
divide by IZ. “This gives You vn)
teh you Soul veaveteach month
ver enern
Wat ere the 5's of budgeting Explcn
each, -leteed onthe you mare
Ae ay Aer open
Restrnt ay no to onpateee
outeide oF ypu lg.
Name 3 ways you can increase your
What isa short erm goal?
eee tran 1 Year"
What is along term goat
more than 4 year
| What should be the tisfimport
{ullfime employee?
cetablich an emergency fund
What percentage of your paycheck should
g0 directly fo savings?
\0%o
What is the ideal amount to have in your
emergency fund?
BU monthe income.
When should you establish your emergency
We a inueat or make
lar “Savchases
Eales concep! fay Youn et
— je like a
int goal of
ma purchase power,
Seer, fut noney des comparser ‘chop; coupon, heme,
bts eCasord why having a spending planis | prce'madeh, escarth che
Pe hn ne Give 5 examples of how retailers use pricing
gin oh 7a ond odvring io nowate yu seen
i opr spree ge i aad Ve
ie “ines gone ee nal age Sessa et
bs aac jiosche) . Daw
ifyour fiends have more discretionary
income than you, name 3 ways you can
‘avoid overspending.
on eee ose Tt akties
cen i Your ettucrtion