Naomi has decided on several financial goals. What step would be LEAST likely to help her reach her priority goal?

• Carefully consider each choice and option

• Do what feel right today

• List the benefits and obstacles of each goal

• Identify the goal she most wants to do

You have decided on a few goals and are having trouble prioritizing your priority goal. Which step of the decision-making process is MOST likely to help you choose your priority goal or goals?

• Carefully consider each choice and option.

• List the benefits and obstacles of each goal.

• Identify the goal you most wan to do.

• Evaluate your decision and change it if you think there is a better choice.

A friend of yours has made some poor choices with spending, including overspending on a credit card. What would be the BEST advice to offer your friend?

• Make a goal to reduce debt now.

• Choose only one item to spend money on

• Don't worry about it and take your time to pay it off.

• List the long-term benefits and obstacles of being in debt.

Which decisions can negatively impact a financial goal?

• impulse decisions

• critical-thinking decisions

• problem-solving decisions

• informed decisions

Spending money on items that are seen as trendy or expensive can project a certain image but ______________.

• can lead to unwanted debt.

• can break your budget.

• is always a bad idea.

• can make people jealous.

The root cause for a student spending more than she has is that she ____________________.

• occasionally makes impulse buys.

• purchases things online.

• does not keep track of her spending.

• has no emergency fund.

What is NOT an effect of long-term spending?

• Expenses exceed income.

• Use of debt and credit increases.

• Credit counseling becomes necessary.

• Impulse buying occurs on a regular basis.

What is the NMI used for?

• NMI is the amount of your variable expenses

• It is the amount of income used to determine your monthly spending budget.

• It determines your fixed expenses.

• NMI is your discretionary allowance.

What is the amount of income remaining after all bills and obligations are paid that can be used to purchase goods and services?

• luxury spending

• overconsumption

• variable expenses

• discretionary income

How many steps are there in the (Financial Decision-Making Process)

• 3

• 5

• 4

• 6