Financial Issues/College

Gas expenses are a type of _________ cost.

• fixed
• variable

The majority of Americans...

• Have an adequate emergency fund and have enough saved for retirement

• Have an adequate emergency fund but do NOT have enough saved for retirement

• Do NOT have an adequate emergency fund but have enough saved for retirement

• Do NOT have an adequate emergency fund and do NOT have enough saved for retirement

How can a cardholder avoid paying interest on a credit card?

• Pay the balance in full every month
  
• Pay the minimum payment after its due date
• Do not pay anything
• Pay the minimum balance every month

Investments are important to building:

• For emergencies

• For your future net worth

• For a car

• Tax-advantaged investments

How much do personal finance experts recommend having saved in an emergency fund?

• 1-3 month of expenses

• 4-6 months of expenses

• No amount of savings

• 1-2 years of expenses

A credit report is a report showing a borrower's history of how well they paid their bills.

• True
• False

Debts that are owed by an individual are called:

• liabilities

• fixed expenses

• net worth

• assets

Only making the minimum payment on a credit card every month will:

• lower the amount total paid for the purchase
• take longer to pay off which will result in paying more interest, more money!
• pay off the credit card faster

Items that are owned by an individual

• assets
• liabilities
• property
• expenses

All of the following are costs of going to college EXCEPT...

• Tuition and fees

• Room and board

• Textbooks

• Scholarships and grants