ESSAYS QUESTIONS FOR 1st PART 1. State and discuss the financial success formula. 2. Discuss the rule “Pay yourself first.” How do you accomplish it? 3. What is net worth and why is it important? 4. What is your DGP? Explain fully. 5. Why should you fully fund your retirement account at work? 6. What second jobs could you do to have a second source of income? 7. What is meant by the “Big 5”? What is their importance? 8. Discuss how you can get control of your money. 9. Discuss 3 examples of what one can do to save money. 10. What is tax deferral? Why is it important? 11. Give an example of the rule of 72. 12. How many credit cards do you think you need? Why? 13. What is a debit card? 14. Are budgets helpful? 15. What is compounding and why is it important? 16. What is time value of money and why is it important?