30 Questions
What is the focus of Module 2 of Financial Awareness?
Knowing your why
Module 2 of Financial Awareness focuses on knowing your ______.
why
True or false:Module 2 of Financial Awareness focuses on growing income.
False
True or false: Passion and perseverance are not necessary for success in anything.
False
Personal motivation can include getting out of ______ debt, creating an emergency fund, or building wealth for retirement.
consumer
What are two necessary qualities for success?
Passion and perseverance
The seven aspects of financial awareness are: knowing your why, setting realistic goals, growing income, controlling spending, eliminating ______ debt, saving, and investing for the future.
consumer
What is an example of personal motivation?
Building wealth for retirement
True or false: Personal motivation can include building wealth for retirement.
True
It takes patience, commitment, and new habits to achieve financial ______.
abundance
What are the seven aspects of financial awareness?
Knowing your why, setting realistic goals, growing income, controlling spending, eliminating consumer debt, saving, and not investing for the future
True or false: Professional motivation cannot include expanding a business.
False
What is recommended for an emergency fund?
Three months worth of personal expenses
True or false: There are seven aspects of financial awareness.
True
An emergency fund is recommended with three months worth of personal ______.
expenses
True or false: Prioritizing the seven steps to financial freedom is the same for everyone.
False
When is it recommended to invest in a Roth IRA or 401(k)?
After establishing an emergency fund
Investing in a Roth IRA or 401(k) is recommended once consumer debt is paid off and emergency funds are ______.
established
Why is it important to identify personal and professional motivation in writing?
To maintain financial awareness and accountability
It is important to identify personal and professional motivation in writing to maintain financial awareness and ______.
accountability
True or false: Achieving financial abundance requires patience, commitment, and new habits.
True
True or false: An emergency fund is not recommended.
False
What are the first steps in prioritizing the seven steps to financial freedom?
Knowing your why and setting goals
Next steps include growing income, controlling spending, reducing debt, ______ more, and investing.
saving
True or false: Investing in a Roth IRA or 401(k) is recommended before paying off consumer debt and establishing an emergency fund.
False
What is necessary to achieve financial abundance?
Patience, commitment, and new habits
Prioritize order in which to tackle these goals: knowing your why and setting goals are universal first steps, next focus on growing income, controlling spending, reducing debt, ______, and investing.
saving
What will the next module of Financial Awareness focus on?
Creating smart goals for each step
The next module will focus on creating smart goals for each ______.
step
True or false: Identifying personal and professional motivation is not important for maintaining financial awareness and accountability.
False
Study Notes
- Module 2 of Financial Awareness focuses on knowing your why.
- Passion and perseverance are necessary for success in anything.
- Personal motivation can include getting out of consumer debt, creating an emergency fund, or building wealth for retirement.
- Professional motivation can include leveling up in a career or expanding a business.
- The seven aspects of financial awareness are: knowing your why, setting realistic goals, growing income, controlling spending, eliminating consumer debt, saving, and investing for the future.
- Prioritizing these steps may differ for each individual.
- It takes patience, commitment, and new habits to achieve financial abundance.
- An emergency fund is recommended with three months worth of personal expenses.
- Investing in a Roth IRA or 401(k) is recommended once consumer debt is paid off and emergency funds are established.
- It is important to identify personal and professional motivation in writing to maintain financial awareness and accountability.
- Prioritize the seven steps to financial freedom according to personal journey
- Knowing your why and setting goals are universal first steps
- Next steps include growing income, controlling spending, reducing debt, saving more, and investing
- Prioritize order in which to tackle these goals
- Next module will focus on creating smart goals for each step
Are you ready to take control of your financial future? Take this quiz to test your knowledge on Module 2 of Financial Awareness, which focuses on knowing your why and the seven steps to financial freedom. Learn how to prioritize your financial goals, such as eliminating consumer debt, building an emergency fund, and investing for the future. Discover the importance of personal and professional motivation and how it can help you achieve financial abundance. With patience, commitment, and new habits, you too can achieve financial freedom. So
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