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Money Management - Heart Matters
Page 1 of 1
1. True or False: Being a controlling person is always harmful to financial health.
True
False
2. Personal control (choose two correct answers):
Has a lot to do with good emotional and financial health.
Can cause people to become depressed and pessimistic.
Can help people develop their financial plan.
Will cause some people to take drugs.
3. A S.M.A.R.T. financial goal is NOT:
Realistic.
Time-bound.
Related to interest rates.
Specific.
Measureable.
4. What is the relationship between T.V. and spending?
T.V. viewing will reduce stress and therefore spending.
The size of your T.V. equals how much you spend.
T.V. viewing can cost $200 per year for every hour watched per week.
Spending is not related to T.V.
5. Spending money for goods and services that are considered necessary to survival is:
Is a definition for "wants".
Is considered splurging.
Is important to creating a financial plan.
A definition of "need".
6. We create irrational beliefs when our sources of need satisfaction are threatened. What needs in particular are most involved in creating irrational beliefs?
All of the answers are correct.
SAFE needs.
Our love relationships.
Our family relationships.
7. We develop irrational beliefs:
When our need for love is threatened.
All of the answers are correct.
When our need for a close family relationship is threatened.
When we see what others have.
8. We elevate our wants to needs because:
All of the answers are correct.
Our irrational beliefs are so strong.
Our needs are so weak.
Our rational beliefs are so strong.
9. We should include as our highest priority on a budget:
Self-actualization needs
Needs disguised as wants
Physiological needs.
Safety needs
Wants.
10. There is a relationship among money, needs and stress. When we're under stress we tend to:
Avoid our needs because of stress.
Spend less on our needs because we don't feel we have the time.
Get hung-up on a deficit need and overspend on that need.
Elevate wants to needs.
11. One _____ can satisfy many _____.
Need, behavior
Behavior, people
Want, situations
Behavior, needs
12. Increased debt often causes us to:
Feel little change in control or our beliefs.
Feel stress caused by rational beliefs.
Feel stress caused by a sense of loss of personal control.
Feel increased personal control.
13. Irrational beliefs that are created by elevating wants to needs:
Are the result of not having enough needs to fill.
Have little consequence to our emotional health.
Can cause financial habits that we know will contribute to our financial ill-health.
Help us decrease our spending and increase our savings.
14. When we compare ourselves to others and spend in hopes of looking like them:
We are making social comparison.
We will achieve our financial plan.
We have higher level needs for "being."
We will create a better financial plan.
15. Downshifters (choose two correct answers):
Are people who do nothing more than drop-out
Are people who voluntarily reduce their income.
Are people who voluntarily reduce their expenses.
Are a small group of people in England who are trying to create a utopian society.
16. How might Downshifters reduce expenses?
Move to a more modest house or apartment.
Take a second job.
Return to school for more training.
Travel more.
17. For most of us, downshifting expenses:
Would mean we could save 20% more and not feel a decrease in the quality of life.
Would mean we could earn more and save more.
Would mean we could save 10% more and not feel a decrease in the quality of life.
Would mean a serious reduction in the quality of life.
Calculating...
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Taking Responsibility
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Design A Plan
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Step 1: Goals
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Net Worth
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Summary
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Introduction
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Recap Head Matters
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Personal Control
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Wants vs. Needs
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Page 3
Social Influences
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Downshifters
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Summary
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