Finance Pop Quiz 12/4

What is the first and most important rule of money?

• Pay yourself firt

• Must have emergency funds

• Money wont make you happy

• Use debt wisely

According to the 7 rules of money will money make you happy?

• Yes it will

• no it wont

Select the best choice

A budget:

• will ensure I have control and tell my dollars where to go instead of me wondering where all my dollars or money went

• will ensure I take care of my priorities

• is adjustable- I can change the amounts as needed accordingly

• all of the above

What is the name of the website my teacher introduced to me which I can use to help me figure out paycheck taxes and other items as needed? ( please bookmark and save it or make a note of it in your phone).

• mcdonoughhighschool.org

• creditkarma.com

• smartasset.com

• wheresmybank.com

What items ( be sure to select two choices) will ALWAYS be deducted from your gross pay leaving you your net pay or take home salary?

• child support

• alimony

• federal taxes

• state taxes

Please choose the BEST possible choice.

What are the benefits of having an emergency fund?

• You can pay for unforeseen emergency expenses such as medical or dental.

• You can maintain your lifestyle in the event of a disability or illness or help your family to do so.

• You can take advantage of financial opportunities.

• You can replace your income should you lose your job.

• All of the above

What would be the best investment in my money which usually will become worth more money than I originally paid for it?

• car

• michael jordan tennis shoes

• newest iphone

• real estate

What is NOT true about financing or charging an item?

• you will pay the same amount you financed it for

• you will pay more than you financed it for

• you will pay less than the amount you financed it for

• none of the above

Tags

CCSS.7.RP.A.3

Why is it best to pay cash for most items?

• It will ensure that you do not spend more than you make

• it will help to ensure that you live within your means

• You will not pay additional costs for an item that what you paid for

• You own it- no one can take it away from you

• all of the above

Please choose the best answer :What is considered "good debt"?

• Home

• student loans

• home and/or student loans

• brand new car