Personal Finance Unit 3 Review

You have less freedom with your money if you...

• Invest in the stock market

• Are paying for things in your past

• Put money in a bank account

• Make less than $35,000

Once you have $500 saved in an emergency fund, you should...

• Start paying off your debt

• Invest it in the stock market

• Save it until you have an emergency

• Use the money to pay for health insurance

47% of Americans have less than $1000 saved for a(n) _______.

• Emergency

• Car

• Retirement fund

• New smartphone

Tags

CCSS.RI.11-12.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.8.7

CCSS.RL.9-10.7

The first step you should take when you want to make a large purchase is...

• Ask your parents to lean you the money with low interest

• Get a new credit card

• Decide how much you'll need to save and the time frame you want to save it in

• Sell something and use the proceeds

It's not IF an emergency will happen, but _____.

• How

• Where

• Why

• When

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

Why do some accounts, like a savings account at your local bank, earn interest?

• Because you deposit money, adding to your principal each month

• Because the bank pays you to use your money

• Because those accounts always have great interest rates

• Because of inflation

The best way to build wealth is to start investing early. You should start investing money...

• Once you have a full-funded emergency fund

• Once you are working at your full-time career, living debt free, and have saved 3-6 months of living expenses

• When the stock market is preforming really well

• As soon as you have extra cash

If people saved the equivalent of a car payment each moth for a year or two (instead of spending it on payments and interest), they could have enough money to buy a car with cash for much cheaper.

• True

• False

Tags

CCSS.6.RP.A.3B

The only place you should keep your emergency fund money is...

• A savings account or money market account

• A safe in your bedroom

• A Roth IRA

• An envelope in a safe place

If you really want to save money, you've got to...

• Fly economy class

• Live unless than you make

• Invest in a Roth IRA

• Have a financial advisor

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RL.9-10.2