Personal Finance

401(k), IRA, and Roth IRA are all examples of a __________ account.

• Retirement
• College Savings
• Low Interest
• Stock

This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income.  Sometimes employers will even match the employee contribution up to a certain amount.

• mutual fund
• 401(k)
• Roth IRA
• savings

The first step of financial freedom;
$500 for teens; $1,000 for adults

• mutual fund
• emergency fund
• sinking fund

Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest). 

• Savings
• Profit
• Budgeting
• Credit

Tags

CCSS.7.RP.A.3

What is a credit score?

• a three-digit score that tells lenders how much money you make each year.

• A five-digit numerical rating that reflects how likely you are to repay your debt.

• A three-digit numerical rating that reflects how likely you are to repay your debt.

• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

What are some benefits to starting a savings account early?

• you can earn interest on money saved

• putting money aside will help avoid spending it on something else

• setting a savings goal will help

• all of the above

Buying fruit that is "in season" is a way to save money due to which of the following?Aexpensive fruit tastes betterBthe price being low and being more availableCmany fruits do not have a growing season

• expensive fruit tastes better

• the price being low and more available

• many fruits do not have a growing season

Tags

CCSS.RI.4.8

CCSS.RI.5.8

CCSS.RI.6.1

CCSS.RI.6.8

CCSS.RL.4.5

When opening a savings account or planning your budget, which unexpected expenses should you consider?

• home repair

• car repair

• medical expenses

• all of the above

When you are planning a monthly budget, a few things you might consider are:

• preparing for unexpected expenses

• buying a new house

• paying for college

• all of the above

Planned expensese are expenses that you know about. Which are examples of planned expenses?

• groceries

• auto insurance

• utility bill (gas, water, and electric bill)

• all of the above