A) Cut all unnecessary spending. B) Track your income and expenses. C) Invest in the stock market. D) Open a separate savings account.
A) Entertainment B) Groceries C) Gas D) Rent
A) Mortgage B) Utilities C) Loan Payment 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% debt, 30% income, 20% expenses. B) 50% savings, 30% needs, 20% wants. C) 50% needs, 30% wants, 20% savings/debt repayment. D) 50% investments, 30% bills, 20% fun.
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) Reverse Budgeting C) Zero-Based Budgeting D) 50/30/20 Rule
A) Going on vacation. B) Buying luxury items. C) Investing in high-risk stocks. D) Unexpected expenses like car repairs or medical bills.
A) Mailing bills in colorful envelopes. B) Using cash-filled envelopes for specific spending categories. C) Sending money anonymously. D) Storing important documents in envelopes.
A) Quitting your job. B) Reducing unnecessary spending. C) Borrowing money from friends. D) Ignoring your bills.
A) Twitter B) Mint C) Facebook D) Instagram
A) To avoid paying taxes. B) To have a clear direction for your money. C) To make your friends jealous. D) To impress your boss.
A) Paying off smallest debt first for motivation. B) Accumulating more debt. C) Ignoring your debts. D) Filing for bankruptcy.
A) Paying off the debt with the lowest interest rate first. B) Paying off all your debts at once. C) Paying off the debt with the highest interest rate first. D) Paying off the debt with the largest balance 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) Average Purchase Return B) Approved Payment Request C) Annual Percentage Rate D) Annual Prime Rate
A) Losing money on your investments. B) A type of savings account. C) Earning interest on your initial investment and accumulated interest. D) Paying interest on your debt.
A) Spreading your investments across different assets. B) Betting on a single outcome. C) Investing all your money in one stock. D) Avoiding investments altogether.
A) A number that reflects your creditworthiness. B) Your bank account balance. C) The amount of money you have saved. D) Your annual income.
A) To get better interest rates on loans and credit cards. B) To get free money from the government. C) To impress your friends. D) To avoid paying taxes.
A) A fund for burying your money. B) A government bailout program. C) Saving money for a specific, larger purchase. D) A loan with extremely high interest rates.
A) Saving $100 B) They are the same C) Impossible to say D) Spending $100 on lottery tickets
A) Improving your credit score quickly. B) Accumulating debt and paying high interest. C) Earning valuable rewards points. D) Avoiding the need to track spending.
A) Ignore the problem and hope it goes away. B) Take out a high-interest loan. C) Blame someone else for your financial situation. D) Identify and cut unnecessary spending.
A) The cost of doing business. B) The cost of running a company. C) A sudden, unexpected expense. D) The value of the next best alternative foregone when making a decision.
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 new car B) Designer clothes C) A luxury vacation D) Food
A) You have no money at all. B) You are in debt. 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 decreases the cost of goods and services. C) It makes you richer. D) It has no impact on your budget.
A) Your annual salary. B) Your credit score. C) The amount of money in your bank account. D) The value of your assets minus your liabilities. |