What is not a behavior of a * 4 points financially responsible person? (please select all correct answers) managing credit responsibly saving money for the unexpected costs understanding your costs, income and budgeting to ensure all expenses are covered using a credit card for large unplanned purchases having a healthy attitude toward money and always paying bills on time Our culture and our emotions as * 1 point well as the society influence our personal relationship with money. TRUE FALSE Our early life experiences with * 1 point money do not normally contribute to our current financial values, beliefs and attitudes. TRUE FALSE The lack of self-awareness or the 1 point presence of uncertainty about values can lead to less rational attitudes, choices and undesirable spending behavior. FALSE TRUE Our beliefs shape our values, our * 2 points values shape our attitudes and these, in turn, shape our... Emotional Intelligence Behavior Culture Ethnicity Which 2 strategies or habits * 4 point should NOT be used to manage our finances efficiently: paying your bills on time every month building up your savings and starting an investment strategy tracking your spending to improve your finances cutting back on recurring charges using credit rather than saving up cash to afford big purchases creating an unrealistic monthly budget that is too ambitious and hard to follow The value attributed to money can * 1 poin limit or increase our enjoyment of life. FALSE TRUE A path to PERSONAL WEALTH * 4 points CREATION and LONG-TERM FINANCIAL INDEPENDENCE... should always be safe and predictable should be safe at the beginning of your career and unpredictable right before you retire should be more about investing than saving In wealth creation, the total 4 points income earned in your working life is: much more important than how you use the money. in equal proportion to how you chose to use the the money much less important than how you use the money. Disposable Income can be 4 points defined as: the amount of money left in your bank account at the end of each month - your savings the amount of money your employer pays for your income taxes and pension contributions the spendable amount of money deposited in your bank account the amount of money your employer pays for your employment insurance contributions What are the 2 smart ways of 4 points saving money and building your LONG-TERM NEW-WORTH? not worrying about the cost of planned expenditures at the time of purchase shopping around before buying, comparing alternatives and negotiating purchases using your credit card for big purchases only watching for sales and having the lowest-fee bank account Your NET-WORTH is a measure of 4 points your ...... saving capacity wealth ability to get high paying jobs spending capacity The 'Buy NOW, Pay LATER' * 4 points philosophy: contributes to the culture of debt decreases your credit rating increases your credit rating contributes to growing your net-worth Having a debt ... * 4 points is a drag on your wealth creation and can result in physical and/or emotional stress can be motivating and contributes to your wealth creation can be demotivating; however, it contributes to your long-term wealth creation is very uncommon in these day societies COMPOUND INTEREST on debt * 4 points can be referred to as: the interest you pay on the debt from all the credit cards you have the annual interest paid on your debt the repeating interest paid on every single dollar until the interest is paid Which purchase can be identified * 3 poi as not a DEPRECIATING ASSET: a house a flat-screen tv household appliances and furniture a car Changes in government policies 1p have an impact on personal financial circumstances. TRUE FALSE