| A | B |
|---|
| How often should a budget be made? | Every month |
| A zero based budget means: | every dollar is spent on paper before the month begins |
| What does walkaway power mean? | You leave if you don't ge the price you want. |
| What do you need to effectively manage money? | A budget |
| How often is a written cash flow plan done? | Every month |
| 3 ways to describe a budget | People telling their money what to do; A written financial goal; Being proactive with your money |
| List 3 things that could explain a different balance between your statement and account register? | Outstanding checks; Unrecorded Deposits; Manual error |
| A zero based buget means: | Income minus outgo equals zero |
| What should you do if you overspend in one particular budget category? | Immediately sit down and adjust another category to make up for the difference. |
| 3 keys to finding a bargain | Patience; Negotiate everything; Knowing where to look |
| When negotiating, what kind of deal should you set up? | Win-win |
| List 3 characteristics of cash | Visual; Emotional; Immediacy |
| Bargain hunting takes a lot of: | Patience |
| Why should seek to purchase items from individuals? | Individuals are more likely to deal because they need the money more than they need the item. |
| Sending in a proof of purchase to get free gifts or cash back is called: | Rebating |
| With which technique will you most likely hear, “I have to check with my manager”? | Good Guy, Bad Guy |
| If you had no extra money but you still needed an item, what would be your options? | Offer to trade services for the item |
| If you show the seller that you are interested in the item, then you have lost: | Walkaway power |
| When negotiating, never: | Misrepresent the truth. |
| 3 ways free spirits and nerds differ | Relate to time; Deal with numbers; Relate to a budget |
| List a reason to have an accountability partner? | Help you prevent mistakes and keep you on track |
| List a benefit about budget meetings and marriage? | Budget meetings are opportunities to improve communication because you both must agree on spending. |
| Nerd Qualities | Extremely organized; everything has a place; Likes to arrive promptly for meetings and dates |
| Free Spirit Qualities | Spontaneous; Carefree, go-with-the-flow |
