Wise Financial Literacy Questions and Answers | 100% Correct Answer | Grade A+

In order to get spending under control, a person should first Ans: create a budget of current income and expenses. Comparison shopping for a car is necessary because Ans: the price for the car can vary a great deal. Financial planners generally stress the importance of starting to save and invest early because Ans: of the power of compounding and appreciation. An important feature of a good financial goal is that the goal Ans: has a specific time frame. Purchasing power decreases and it costs more money to buy more good when there is an Ans: inflation. What strategy can help a person achieve her goal to buy a house? Ans: Following a budget that allows for saving. A college student has to live on a tight budget. Before making a decision to buy the newest cell phone, which question should he ask himself first? Ans: Is the new cell phone a need or want. Which of the following quotes is sound financial advice? Ans: "A penny saved is a penny earned." Fixed expenses include Ans: rent. Mandatory deductions from a person's paycheck