Careers Final Review

Even though Willie works and earns about $62/week. He still asks his mom for money. What is something that he can change so that he doesn't have to ask his mom for money? Select all that apply.

• find other income

• reduce amounts spent for wants

• buy more stuff

• set aside money each week to pay for big-ticket items

What are three strategies that will help someone stick to their financial plan? Select all that apply.

• write out goals

• spend when you want

• tell others about goals

• review plan regularly to make adjustments

Any money you receive such as an allowance or paycheck is known as...

• inheritance

• income

• paycheck

• gifts

An amount of money spent to buy something or do something that is the exact same amount every time is known as...

• fixed expense

• actual amount

• exact amount

• recurring amount

Taking a certain amount of all money you receive and saving it to be used for spending on longer-term goals is known as...

• saving

• Pay Family First (PFF)

• better plan

• Pay Yourself First

  (PYF)

Money taken out of a paycheck by an employer to pay for taxes, health insurance, and other payments is known as...

• cruelty

• payroll deductions

• taxes

• retirement plans

Take-home pay is known as...

• net income

• gross income

Rule of 72 is useful in calculating the...

• interest an investor needs to earn to reach goal

• Rage of money

• time required to double an investment

• fluctuations of the stock market

The basic rule of a risk-to-return relationship is that the...

• lower the risk, the higher the return rate

• higher the risk, the higher the return rate

• higher the risk, the lower the return rate

• two are not related

Which one of the following types of investments has the lowest risk and lowest rate of return?

• savings bonds

• stocks

• collectibles

• real estate