Consumer Ec Chapter 10

Nerd

A person who is picky about budgeting and details

Accountability

The quality or state of being responsible, liable or answerable

Time Poverty

A situation in which a person is lacking time, which leads to stress

Free Spirit

A person who thinks that everything will work out fine and typically hates to deal with the details

Value System

A person's priorities, beliefs and standards that affect how he or she views the world

T or F; Communicating about financial issues and goals in a relationship can reduce conflict

True

T or F; When it comes to managing money, your personality and values have no importance

False

Which of the following present challenges to managing money as a single adult?
-Time Poverty
-Being accountable to no one
-Impulse buys

All of the Above

When it comes to communicating with others about money, you should not..

Manipulate

When married couples do not share goals and values in how they manage money what occurs

Conflict, Divorce, Stress

how men deal with money

emergency fund is not sophisticated enough, negotiating, lose self esteem with money problems

how women deal with money

emergency fund is the most important key to the financial plan, hunting, fear with money problems

How does communication about important financial matters in households reduce conflict

everyone knows whats going on and everyone gets an input on decisions

How does having a budget reduce conflicts in relationships

You know where the money goes, decide on where you want to spend it, no discrepencies

Summarize challenges youll face managing money as a young adult

time poverty, impulse buying, no one relying on you

Summarize ways that you can overcome the challenges of a young single adult

budget, develop a accountability relationship