1st 9 Weeks Benchmark

Which of the following account records would have the most current balance?

• Account balance statement from the ATM

• Your own account register

• your monthly bank statement

• All of these records will have accurate account balance

A written budget, if followed, removes ________ from your finances.

• Management by crisis

• Overspending

• Guilt

• All of the above

Percentage of Americans living paycheck to paycheck:

• 40

• 50

• 25

• 70

The zero-based budget is the best method of budgeting because:

• The zero-based budget ensures that every dollar you make is assigned a specific purpose

• A zero-based budget allows less money for wants

• Sticking to a zero-based budget requires less discipline

• This type of budget is less complicated than other types of budgets

Which of the following is not a record-keeping feature you could expect from your bank?

• An account register

• A monthly account statement

• A reconciliation sheet

• Customer service reconciles your account for you

For which of the following should you save?

• Purchases

• Wealth building

• Emergency fund

• All of the above

Which of these is not a key to saving money?

• Focus

• Making saving a habit and a priority

• Your income

• Discipline

Which of the following is a reason that people don't save money?

• They lack discipline

• They do not live on a budget

• They lack focus

• All of the above

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

• Emergency fund

• Large purchases

• Have money available to lend to friends

• Build wealth

Which of the following is not a reason your emergency fund should be kept in a separate savings account away from your spending money?

• So that you do not get your spending and saving money confused.

• So that it is clear what money is only to be used for emergencies.

• So that it is not too easy to access.

• So that your emergency fund savings can earn a lot of interest.