Personal Finance - Everfi Future Smart

Front

Imagine you're Anika, and you're packing for a fun adventure! Which of the following items would be considered a want rather than a need for most people? Warm clothes in the winter, A place to live, A smartphone, Nutritious food

Back

A smartphone

Front

What best describes an opportunity cost?

Back

The trade-off of making one choice and giving up a different choice.

Front

Avery and Samuel are launching their dream café! What should they include in their budget to ensure smooth sailing?

Back

All income and expenses

Front

Imagine you're Benjamin, and you're planning your monthly budget. Which of the following is a variable expense that might change each month? Your monthly cost of eating out at restaurants, Your monthly rent payment, The monthly payment on your car loan, Your monthly payment for health insurance

Back

Your monthly cost of eating out at restaurants

Front

Aria and Priya are helping their friend Anika's parents with their monthly budget. Which expense do you think they can skip this month without affecting their needs? Options: Rent payment, Car insurance, Cable service, Groceries

Back

Cable service

Front

If Daniel and Liam know the unit prices of their favorite snack brands, they can:

Back

Compare the prices of the two brands

Front

What is the opportunity cost of Maya's decision to spend her $50 birthday gift on wallpaper?

Back

The other items she could have purchased with her $50

Front

Imagine you're helping Grace and Mason plan their budget for a fun adventure! Which of the following is NOT a successful budgeting strategy? Keep some extra money in your budget for emergencies, Think about which items are your most important needs, Revisit your budget regularly and make adjustments.

Back

Pay with a credit card if you have a hard time sticking to a budget

Front

Imagine you're helping Anika, Oliver, and Abigail plan their dream vacation! Which of the following is NOT true about creating a budget for their adventure? Budgets help you plan how to spend money you earn or receive, A budget can include charitable giving, Budgets include both income and expenses

Back

Once a budget is set, it should not be revisited

Front

What is the term for the regular payment you receive every two weeks or monthly for your professional work?

Back

Salary