Money Management

* Your name:

* Your ID#:

* Explain the concept of a PYF fund. Include what PYF stands for in your response.

* Give an example of a fixed expense you might have.

* Give an example of a variable expense you might have.

* You have learned what the SMART Goal Guide is and how it applies to your ability to manage money. What does SMART stand for?

* Short-term goals are approximately how long into the future?

* Medium-term goals are how long into the future?

* Long-term goals are how long into the future?

* What is "instant gratification" and how does it affect your budget?

* The "opportunity cost" of your decisions is what you give up. Give a specific example that relates directly to you.