Exam 3: Money Management Strategy: Financial Statements and Budgeting

Catherine Jones has determined the following information about her own financial situation.Her checking account is worth $500 and her savings account is worth $900.She owns her own home that has a market value of $98,000.She has furniture and appliances worth $12,000 and a home computer and laptop worth $3,300.She has a car worth $12,500.She has recently purchased an annuity worth $5,500 and she has a retirement account worth $38,550.What is the value of her liquid assets?

WiseBanyan is an innovative website that offers a free financial advisor that suggests and manages investments for your financial goals.

The Garcia family budgets $400 a month for food.Last month they spent $393,which creates a:

If a family planned to spend $400 for food during April but only spent $350,this difference would be referred to as a:

Which one of the following cash outflows should be listed first on a Cash Flow Statement?

The current financial position of an individual or family is best presented with the use of a:

Warranties are commonly kept with ________ purchase and automobile records in a home file.

Jamie McFarland has determined that the value of her liquid assets is $4,500,the value of her real estate is $128,000,the value of her personal possessions is $62,000,and the value of her investment assets is $73,000.She has also determined the value of her current liabilities is $5,700 and the value of her long-term liabilities is $89,000.What is the total value of her debts?

Which of the following would most likely be classified as a current liability?

Which of these is an example of an opportunity cost?

Which of the following would be organized as a personal and employment record in a home file?

The 50/30/20 financial rule of thumb suggests that 30 percent of income be used for:

In order to determine net worth,you would create what kind of report?

A common deduction from a person's paycheck is for:

Catherine Jones has determined the following information about her own financial situation.Her checking account is worth $850 and her savings account is worth $1,200.She owns her own home that has a market value of $98,000.She has furniture and appliances worth $8,500 and a laptop worth $1,200.She has a car worth $9,700.She has recently purchased a mutual fund worth $5,500 and she has a retirement account worth $38,550.What is the value of her personal possessions?

A budget is a spending plan that outlines how you will spend available income.

A person has $1,550 in liabilities,monthly savings of $200,and monthly gross income of $2,000.What is the person's savings ratio?

List the four phases of creating and implementing a budget and describe the details of each phase.

Edward Boston wants to reduce his fixed expenses.Which action would be appropriate?

An example of a liquid asset is: