6 Ways To Improve Your Relationship With Money 1. What do statistics show about most Americans’ financial management?

- Statistics show that 46% of Americans couldn’t come up with at least $400 in an emergency and 60% will face an emergency in less than 12 months.

2. Why do many people have a fraught relationship with money?

- Many people have a fraught relationship with money because having money or lack of money can comes judgement, anxiety comes, and insecurities come.

3. Explain how having an honest conversation about money can affect a person’s ability to take control of their finances.

- Having an honest conversation about money can affect ones ability to control finance because people spend money that aligns with goals, whether their good goals, achieving goals, or selfish reasons for gain.

4. Why are short-term and long-term goals important when it comes to money? Give

A. economic resources to be used or turned into cash within one year. b. reports assets, liabilities, and stockholders' equity. c. decrease assets; increase liabilities and stockholders' equity. d. increase assets; decrease liabilities and stockholders' equity. e. an exchange or event that has a direct and measurable financial effect. f. accounts for a business separate from its owners. g. the principle that assets should be recorded at their original cost to the company. h. a standardized format used to accumulate data about each item reported on financial statements. i. the basic accounting equation. j. the two equalities in accounting that aid in providing accuracy. k. the account credited when money is borrowed from a bank using a promissory note. l. cumulative earnings of a company that have not yet been distributed to the owners. m. every transaction has at least two effects. n. amounts presently owed by the business. transaction, separate entity assumption, balance sheet, liabilities, assets, current assets, notes payable, duality of effects, retained earnings, debit.