Study guide for Unit 3 test
Students cannot open their own savings or checking account until age 18
unless an adult is listed on the account.
Woman and men have different views about money.
A zero-based budget means you have spent every dollar of income on paper
before the months begins.
There is no interest charged when you make debit card purchases, it comes
right from your checking account.
Walk away power means you leave if you don’t get the price you want.
The power of cash is immediate.
Between the ages of 13 and 15 is a good age to open a checking account.
Your budget begin to work well, usually after three months.
The post powerful tool in negotiation is silence.
It is never a good idea to use credit card to find a bargain.
It is necessary to have an accountability partner even when you are single.
It is not true that you should use credit cards for emergencies.
The number one cause of divorce in this country is not child care issues but
usually money.
Personal finance is not 20% behavior, 80% knowledge.
Negotiation is a way of life in many areas of the world and not just in the US.
An auction is when bidding on items.
A commission is earning money based on the work you do.
Walk away power is the ability to leave if you are not satisfied with the price
offered.
Zero based budget is when every dollar is spent on paper before the month
begins.
Negotiating is bargaining for a lower price.
Nerd like dealing with numbers.
Irregular income form is used when you don’t have a predictable income.
Impulse purchase is buying without thinking.
Win-Win is when both parties benefit in negotiations.
Reconcile is checking your bank statement against your account register.
Non-Sufficient Fund (NSF) is fees that is charged for overdrawn account.
Work ethic is a motivation to work.
Pawn shop is a myth that these places have stolen goods.
Cash is emotional, visual and has immediacy.
Fiscal is having to do with money.
A budget is a great way to effectively manage money.
A budget is people telling their money what to do, a written financial goal,
and being proactive with your money.
A written cash flow should be done every month.
Fast talking is not one of the key to finding a bargain.
Extended warranties are not worth the cost that are charged.
Allowance is paid regardless of the work that gets done.
A healthy financial plan is a written monthly budget, health insurance,
emergency fund and automobile insurance.
The mall is not a good place to negotiate.
Characteristics of cash is visual, emotional and immediacy. Walkaway is not
a characteristics of cash.
13-15 years old is a great age for students to open their first checking
account.
Free spirit is not good with numbers, carefree, go with the flow type of
attitude.
A nerd does a lot of calculations on paper and in his or her head and like to
arrive promptly for meetings and dates.
Refunding is a proof of purchase to get free gifts or cash back.
Walk away if a store is unable to negotiate the price down.