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