Financial Review 1

An example of a long term goal is:

• Saving for 2 Months to purchase Prom tickets
• Saving for 5 years for a major vacation
• Saving for 10 Months for an Ipad

If Joan is saving $5000 for a used car and realizes that she is not saving enough to reach her goal in 3 years, then she should change her budget to save a higher percentage of her income each month or:

• Continue to save for more months
• spend more on recreation
• give up her goal

Which of the following is one of the steps in creating a budget?

• Create a Spending Chart based on Birthdays and special events
• Create a table for cash gifts and gift cards
• Record expenses, listing needs then wants

You pay $550 in rent each month.  This would be a variable expense.

• True
• False

Sandy wants to save $200 over the next 4 months for a lift ticket to go skiing.  How much should she save each month in order to meet her goal? 

• $100.00
• $80.00
• $50.00

Tags

CCSS.3.OA.A.3

Concert tickets are an example of a need.

• True
• False

Which is an example of regular monthly INCOME?

• Gift Card
• Paycheck
• Cable Bill

When you begin a budget, you need to first list all your regular sources of income.

• False
• True

Mrs. Thomas wants to save $4000 over the next 3 years to pay for new carpet and painting in her home.  How much will she need to save each month in order to reach her goal? 

• $1350.00
• $111.12
• $350.00

Tags

CCSS.6.EE.B.6

Miguel attends a community college and pays $1500 in tuition twice a year.  This is an example of a:

• Periodic Expense
• Variable Expense
• Fixed Expense