Personal Financial Literacy: Budgeting for Your Home

What percent of 18-29 year olds are currently living with their parents?

Record your answer as an integer. You do not have to put a % sign next to your answer.

(a)  

At what age do you envision yourself living on your own?

• 18-22

• 22-26

• 26-30

• I never plan on living on my own.

According to US News "150 Best Places to Live in America," what were the top 5 places to live in the USA in 2022-23?

To make the top of the list, a place had to have good value, be a desirable place to live, have a strong job market and a high quality of life.

• Colorado Springs,

  Colorado

• #4

• Huntsville, Alabama

• #5

• Boulder,

  Colorado

• #1

• Green Bay,

  Wisconsin

• #3

• San Jose,

  California

• #2

What do you need to consider before moving to a new place?

Check all that apply.

• Cost of living

• Job availability

• Desirability and happiness

• Crime

• Commute

A security deposit is money that your landlord holds in case you break your lease or damage theapartment. What is the typical security deposit amount owed when you sign a new lease agreement?

• 6 months' rent

• Two to four months' rent

• One to two months’ rent

• Prepay for a year

You can expect to pay an application fee and deposit before you sign a lease for a new apartment. There may also be move-in, broker, and administrative fees.

An application fee is intended to cover the cost of ​ ​ (a)   . It is ​ (b)   .

• a credit and background check
• not refundable
• refundable
• pet deposit
• cleaning your apartment
• utility bills

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.5

A security deposit is a sum of money you pay to your landlord or property management company when you sign a new lease, usually equal to ​ (a)   . (Some states actually limit how much money a landlord can request for a security deposit.) Think of it as insurance for the apartment owners. They can keep ​ (b)   of the money if you skip out on your rent or severely damage the apartment. But if you leave the unit as you found it—minus normal wear and tear—your landlord should refund ​ (c)   security deposit when your lease is up.

• one to two months' rent
• some or all
• all of your
• two to four months' rent
• none
• none of your

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.5

If you have a pet in your apartment, you may be asked to pay extra when you sign your lease agreement.  What’s the difference between a pet fee, pet deposit and pet rent?

Match the following:

• pet deposit

• a one time non-refundable fee

• pet fee

• is refundable as long as your pet doesn’t do any damage to the apartment

• Pet rent

• a monthly charge that is tacked on to your regular monthly rent amount

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.5

What is the purpose of an application deposit and how does it benefit both the applicant and the owner of the rental property?

Check all that apply.

• The owner gets to keep your car as collateral if you back out.

• It contributes to the amount you owe for your security deposit.

• It pays the first two months of utilities.

• If you back out, the landlord can keep some or all of your application deposit.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.3

Buying a home achieves which two financial goals at the same time?

• Providing a place to live, bringing you great happiness

• Providing a place to live, paying for your college expenses

• Providing a place to live, investing for the future

• Providing a place to live, paying off your consumer debt