Senior Math 2.1 Quiz

The five steps to financial success

• The Five Compliments
• The Five Foundations
• The Five Freedom Steps
• The Five Money Saving Steps

A savings account that is set aside to be used only for emergency expenses

• Safety Fund
• Emergency Fund
• Savings Fund
• Expense Fund

When it comes to saving money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

• True
• False

Your income level greatly affects you saving habits

• False
• True

At your age, a fully funded emergency fund should be...

• $1000
• $5000
• $500
• $100

Which of the following is not one of the three basic reasons for saving money

• Large Purchases
• Have money available to lend to friends
• Emergency Fund
• Build Wealth

What is the first foundation?

• Pay cash for College
• Get Out of Debt
• Pay Cash for Your Car
• Save a $500 Emergency Fund

What is the second foundation

• Save a $500 Emergency Fund
• Build Wealth and Save
• Get Out of Debt
• Pay Cash for Your Car

Which of the following is a reason that people donʹt save money?

• they lack discipline

• they do not live on a budget

• they lack focus

• all of the above

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

What does it mean to have a negative savings rate?

• Saving for something that is a want instead of a need

• Having a fully funded emergency fund

• Having no savings at all

• Spending more money than you make and acquiring debt