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