SLO Review

If Laura shops around at different stores to find the best price on a new dryer, what smart shopping term is she using?

• retail shopping

• comparison shopping

• online shopping

• quality shopping

Tyler used his credit card to purchase concert tickets. What is the downside of doing this?

• He will pay extra in finance charges.

• It was very easy to purchase the tickets.

• He will have a great time at the concert.

• He can just make minimum payments on the balance.

Which term refers to a list of everything you spend each day which can help you figure out how much money you have coming in each month and how you are spending your money?

• financial goal

• savings plan

• financial literacy plan

• income and cost schedule

As Charitie puts together her personal finance plan, what should she NOT include?

• savings account

• family vacations

• insurance premiums

• living expenses

Ursula needs to purchase a new stove for her apartment before the old one quits working. What's her best course of action.

• Purchase the computer at Rent-A-Center, making a minimum payment weekly.

• Accept a credit card offer she received in the mail with an interest rate of 29.5%.

• Avoid paying her car insurance and cell phone bill and purchase the stove with that.

• Save all summer, working extra shifts at the restaurant and purchase with cash.

Dawson's television quit working. Which option is best for him to use to replace it?

• Use the 90 days same as cash option at the store.

• Charge the television to a credit card.

• Borrow some money from friends for the purchase.

• Skip paying rent for the month so he can pay with cash.

Jenn needs some reliable transportation for her children. Which of the following is the best for Jenn?

• Rely on her family members to offer her rides when she needs them.

• Pay cash for a junker vehicle and hope it lasts.

• Save a large down payment and get a auto loan with a low rate.

• Purchase at a buy here, pay here with no money down.

When it comes to savings,

• put away first and always the amount planned.

• pay for the things you want first, then save.

• find out what your friends do and follow suit.

• pay for what you need and see what's left over.

To save for your long term financial future, you should:

• hide extra cash under your mattress.

• invest in low-risk, high-yielding stocks and bonds.

• save your loose change and cash it in.

• invest in a pyramid scheme and hope it works.

Harriet has been building an ______________ to act like a personal insurance. She will only use it in a crisis situation.

• alternative saving

• stock portfolio

• emergency fund

• ice account