Personal Finance

1
Personal Finance

• The Most Important Class You Will Take This Year

2
First Test

• Question 1
• What percentage of American teens can Balance
  their checkbooks???
• Question 2
• -What percentage of Americans will be unemployed
  at some point during their working careers??

3
First Test

• Question 3
• How many credit cards does the average college
  student have??
• What is the total balance on those credit
  cards??
• If he/she pays only the minimum payment each
  month, how long will it take to pay off the
  balance??

4
First Test

• Question 4
• What is the average amount of consumer debt per
  household in the US??
• Question 5
• What was the average savings rate in America in
  2005, 2006?? What is it today?

5
First Test

• Question 6
• How much do Americans pay in credit card fees
  each year?
• Question 7
• What is the difference between Roth IRA and an
  Individual IRA??

6
First Test

• Question 8
• Does everyone need Life Insurance??
• Question 9
• In the last 10 years young adults between 18-24
  have seen an increase in bankruptcy filings.
  What percentage is the increase?

7
First Test

• Question 10
• What is the US Government national debt balance?

8
First Test

• Question 1
• What percentage of American teens can balance
  their checkbooks???
• Answer
• 1 in 3

9
First Test

• Question 2
• -What percentage of Americans will be unemployed
  at some point during their working careers??
• Answer
• 25-30

10
First Test

• Question 3
• How many credit cards does the average college
  student have??
• Answer
• 4
• What is the total balance on those credit
  cards??
• Answer
• 2864.00

11
First Test

• Question 3
• If he/she pays only the minimum payment each
  month, how long will it take to pay off the
  balance??
• Answer
• 7.6 years
• And you will pay 2394 in interest

12
First Test

• Question 4
• What is the average amount of consumer debt per
  household in the US??
• Answer
• 10,000-12,000.00 and has 9 credit cards

13
First Test

• Question 5
• What has been the average savings rate in
  America in 2005, 2006?? What is it today
• Answer
• NEGATIVE
• -0.5 AND -1.0
• Today 1.5 (down from 5.7 in 1995)

14
First Test

• Question 6
• How much do Americans pay in credit card fees
  each year?
• Answer
• More than 24,000,000,000
• Thats 24 billion dollars

15
First Test

• Question 7
• What is the difference between Roth IRA and an
  Individual IRA??
• Answer
• A Roth IRA is after tax contributions and there
  is no other tax benefits on contributions.
• An Individual IRA has a tax deduction to all
  contributions

16
First Test

• Question 8
• Does everyone need Life Insurance??
• Answer
• NO
• Question 9
• In the last 10 years young adults between 18-24
  have seen an increase in bankruptcy filings.
  What percentage is the increase?
• Answer
• 96

17
First Test

• Question 10
• http//zfacts.com/p/461.html