Personal Finance Ch. 1 Study Guide

What are the steps to setting a goal?

1) you need to know where you are at present 2) think seriously about what you should do to achieve the goals in God's plan for you 3) put it in writing

What makes someone a good steward? ESSAY

A good steward remembers that God owns everything. They are careful and responsible when managing God's resources. They also know that our purpose is not to store up treasures on Earth, but to help people by giving.

What is a misconception?

A misunderstanding; a mistaken bought or idea

Knowledge about money and what you can do with money

Financial Literacy

What are the benefits to being financially responsible? ESSAY

Greater sense of independence, good credit, more opportunities, being prepared for an emergency, and honoring God through good stewardship

Why is financial literacy important?

It helps people become better stewards, reduces stress, saves money, helps you make smarter purchases, and helps you reach your goals

How do financially responsible people react to problems?

They are prepared for the unexpected, they seek God's wisdom