Vault Financial Literacy Round 1

If you have limited means, you _____.

• have too much money

• spend too much money

• save enough money

• can’t have everything

If you are a student living on a tight budget, you _____.

• have too much money

• spend too much money

• save enough money

• can’t have everything

When you must give something up in order to get something else, it is called _____.

• a sound investment

• an opportunity cost

• a lost opportunity

• a limited means

When you must give up your free time in order to study for an exam, it is called _____.

• a sound investment

• an opportunity cost

• a lost opportunity

• a limited means

A Budget includes which of the following (select all that apply)

• A labeled list of the amount of money you spend each month

• the total amount of money you earn each month

• A plan that includes where your money should go

• A list of things you want to buy and how much they cost

John is planning to create a budget for his monthly expenses. According to you, what should his budget include? (select all that apply)

• A detailed list of all his monthly expenses

• The total amount of money he earns each month

• A plan that outlines where his earnings should be allocated

• A list of items he wishes to purchase and their respective costs

When you get paid, which of the following should you do first with your money?

• Put half the money towards bills

• Put some of the money towards fuel costs

• Put some of the money in savings

• Give some of the money to charity

• Invest some of the money

You just received your monthly salary. What should be your first step with this money?

• Donate a part of it to a charity of your choice

• Put some of it to pay your monthly bills

• Deposit a part of it into your savings account

• Put half of it to pay your monthly bills

• Invest a part of it in stocks or mutual funds

When you get paid, which of the following should you do second with your money?

• Put half the money towards bills

• Put some of the money towards fuel costs

• Put some of the money in savings

• Give some of the money to charity

• Invest some of the money

After receiving your monthly salary, what should be your second step?

• Allocate half of it for monthly bills

• Set aside a portion for commuting or gas expenses

• Transfer a certain amount to your savings account

• Donate a part of it to a charity of your choice

• Invest a portion in stocks or mutual funds