Unit #2 PFL & Eco Exam (2024 Version)

Front

You should always make sure you have a _____ .

Back

Budget

Front

To gain an understanding of your personal finances, you should know _____ .

Back

Where you stand financially, how much income you have, what goals you want to set, and how you'll reach those goals

Front

Personal finance is all the financial decisions a(n)_____ must make in order to earn, budget, save, spend, and give money over time.

Back

Individual or family

Front

What is financial literacy?

Back

The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively.

Front

If your assets total more than your liabilities, you will have a(n)_____ net worth.

Back

Positive

Front

Which of the following is NOT a component of a budget? Credit score, Saving, Income, Giving

Back

Credit score

Front

Going to the movies is an example of what types of expense?

Back

Discretionary and variable

Front

Net income is the amount you get paid before taxes.

Back

False

Front

What kind of money counts as income?

Back

All money that you receive, including money from your job and gifts like birthday money

Front

45% of Americans have less than $1000 saved for a(n)_____

Back

Emergency