Everfi Vault 1-2

If you have limited means, you _____.

• have too much money

• spend too much money

• save enough money

• can't have everything

When you must give somethin up in order to get something else, it's called ____

• a sound investment.

• an opportunity cost.

• a lost opportunity.

• a limited means.

Why do you need to use decision making skills if you have limited means?

• Since you are not able to have everything, you must decide what you really need.

• Making decisions is possible when you can have everything.

• You have a limited number of decisions.

• You have too much money, which makes decision making hard.

An opportunity cost can make decision making difficult because _____.

• you must choose to give up some things in order to get other things

• the costs might be extremely high

• it’s hard to make decisions about opportunities

• you may only get that opportunity once

Before you buy something you want, you should buy____

• something cheap.

• something you need.

• something expensive.

• something on sale.

Food, water, shelter and clothing are examples of _____.

• limited means

• wants

• needs

• opportunities

If you have limited means you may need to prioritize. This could mean crossing video games off your shopping list and replacing them with _____.

• groceries

• movie tickets

• designer jeans

• new sneakers

Setting a goal lets you,

• achieve nothing.

• forget the next steps.

• achieve what you want to do.

• spend more money.

When you have a goal, you can _____

• plan out steps to achieve it.

• avoid bad decisions.

• buy more of what you want.

• buy more of what you need.

Which of these things will NOT help you achieve a goal?

• Setting the goal.

• Hoping you meet it.

• Planning out steps to meet it.

• Prioritizing decisions.