A) Invest in the stock market. B) Track your income and expenses. C) Cut all unnecessary spending. D) Open a separate savings account.
A) Entertainment B) Groceries C) Gas D) Rent
A) Utilities B) Insurance C) Loan Payment D) Mortgage
A) To become instantly rich. B) To impress your friends. C) To avoid paying taxes. D) To track income, expenses, and financial goals.
A) 50% savings, 30% needs, 20% wants. B) 50% debt, 30% income, 20% expenses. C) 50% needs, 30% wants, 20% savings/debt repayment. D) 50% investments, 30% bills, 20% fun.
A) Prioritize saving a portion of your income before spending. B) Spend all your money on yourself. C) Give all your money to charity. D) Borrow money to buy things you want.
A) 50/30/20 Rule B) Zero-Based Budgeting C) Envelope System D) Reverse Budgeting
A) Unexpected expenses like car repairs or medical bills. B) Buying luxury items. C) Investing in high-risk stocks. D) Going on vacation.
A) Sending money anonymously. B) Mailing bills in colorful envelopes. C) Using cash-filled envelopes for specific spending categories. D) Storing important documents in envelopes.
A) Borrowing money from friends. B) Ignoring your bills. C) Reducing unnecessary spending. D) Quitting your job.
A) Facebook B) Instagram C) Twitter D) Mint
A) To impress your boss. B) To make your friends jealous. C) To avoid paying taxes. D) To have a clear direction for your money.
A) Filing for bankruptcy. B) Paying off smallest debt first for motivation. C) Accumulating more debt. D) Ignoring your debts.
A) Paying off all your debts at once. B) Paying off the debt with the highest interest rate first. C) Paying off the debt with the lowest interest rate first. D) Paying off the debt with the largest balance first.
A) To impress your friends. B) To avoid thinking about your finances. C) To make sure you are spending enough money. D) To make adjustments based on your changing needs.
A) Average Purchase Return B) Approved Payment Request C) Annual Percentage Rate D) Annual Prime Rate
A) Paying interest on your debt. B) Losing money on your investments. C) Earning interest on your initial investment and accumulated interest. D) A type of savings account.
A) Investing all your money in one stock. B) Betting on a single outcome. C) Avoiding investments altogether. D) Spreading your investments across different assets.
A) Your annual income. B) A number that reflects your creditworthiness. C) Your bank account balance. D) The amount of money you have saved.
A) To get free money from the government. B) To avoid paying taxes. C) To get better interest rates on loans and credit cards. D) To impress your friends.
A) A loan with extremely high interest rates. B) Saving money for a specific, larger purchase. C) A fund for burying your money. D) A government bailout program.
A) Impossible to say B) Spending $100 on lottery tickets C) Saving $100 D) They are the same
A) Earning valuable rewards points. B) Improving your credit score quickly. C) Accumulating debt and paying high interest. D) Avoiding the need to track spending.
A) Identify and cut unnecessary spending. B) Ignore the problem and hope it goes away. C) Take out a high-interest loan. D) Blame someone else for your financial situation.
A) The cost of doing business. B) The value of the next best alternative foregone when making a decision. C) The cost of running a company. D) A sudden, unexpected expense.
A) There is no real difference. B) Needs make you happy, wants make you sad. C) Needs are expensive, wants are cheap. D) Needs are essential for survival, wants are not.
A) Food B) A new car C) Designer clothes D) A luxury vacation
A) You are in debt. B) You have no money at all. C) You have more expenses than income. D) You have more income than expenses.
A) It increases the cost of goods and services. B) It makes you richer. C) It has no impact on your budget. D) It decreases the cost of goods and services.
A) The value of your assets minus your liabilities. B) The amount of money in your bank account. C) Your annual salary. D) Your credit score. |