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Personal Finance/Budgeting

Authored by Michelle Winters

Social Studies

7th Grade

Used 20+ times

Personal Finance/Budgeting
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44 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of having a personal savings plan?

Personal savings plans let people spend more time doing activities they enjoy.

People who save money are able to spend more money in the future and pay for unexpected expenses.

People who save money are able to spend a lot of money right now.

Personal savings plans help people have an unbalanced budget.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A balanced budget is when expenses are greater than income.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A balanced budget is when income is equal to or greater than expenses.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of income?

Charging a lunch you will pay tomorrow

Buying an ice cream at lunch today

Money you get for working a job

Trading supplies with a friend

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of borrowed money, usually expressed as a percentage.

interest
savings plan
scarce
purchase

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

401(k), IRA, and Roth IRA are all examples of a __________ account.

Retirement
College Savings
Low Interest
Stock

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This term refers to the original amount of a loan OR the original amount of money invested. 

Principal
Interest
Rebate
Fixed Rate

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