Personal finance
Electricity
A common flexible expense associated with apartment renting.
Saving for retirement
An example of a long-term goal
An example of fixed expense is
Auto insurance
Gross pay
Common deduction on a person's pay stub
Entertainment
Commonly considered a flexible expense
Identifying the problem
Final step of decision making process
False
Flexible expenses stay about the same each month
True
Raising prices causing lower buying power is refered to as an inflation risk
False
Saving money for a down payment to buy a house is usually is considered a short-term goal.
False
Security deposit covers the rent for the first month when moving an apartment.
Lease
The agreement between a renter and a landlord
False
The budgeting procces starts with monitoring current spending
False
The decision-making process starts with gathering information
Hidden cost of a job might involve
Uniform fees
Planning process
1)assess personal interests and abilities 2)
True
A common long-term goal may Involve saving for collage for parents of a newborn child
Building insurance
A common moving-in cost for an apartment.
Security
A deposite refers to money held to cover possible damage in an apartment.
True
A lease is designed to protect the rights of both a tenant and a land lord.
Buy additional furniture
A long-term goal
True
A roommate may reduce the financial burden of renting an apartment.
Interviewing
After applying for an avaliable position
False
An electric bill is commonly considered a fixed living expense.
The consumer price index
Changes in the buying power of the dollar
Interest rates are low
Consumer spending is likely to rise
Stock options
Employee benefits would a working parent find most useful
True
Higher interest rates results in higher costs of borrowing money
True
Interests earned on Saving may be referred to as the "time value of money"
Liquidity
Investments that may be difficult to convert to cash have a high ........risk
False
Most short-term goals are based on activities over the next two or three years
True
Rent is considered a fixed expense
Review financial progress
The financial phase of the budgeting procces
Identify specific job opportunities
The first phase of the career planning process
False
The first phase of the career planning process is an example of an enconomic influence on decision making
Spontaneity
What a person gives up when making a decision
