EVERFI: FutureSmart Review

Imagine you're stranded on a deserted island. Which of the following would be a luxury (a want) rather than a necessity (a need)?

• A cozy fur coat to keep you warm

• A sturdy hut for shelter

• A high-tech smartphone

• A supply of nutritious fruits and vegetables

Imagine you're a superhero! You have the power to choose between saving the world or having a pizza party. What would be your opportunity cost?

• The amount of pizza you could have eaten at the party.

• The thrill of saving the world that you gave up for the pizza party.

• The amount of money you could have made by selling the pizzas.

• The joy of having a pizza party instead of saving the world.

Imagine you're on a quest to find the perfect computer that suits all your needs. You decide to do some detective work to find the best model. Where do you think you'll find the most unbiased and trustworthy clues?

• The website of a computer company that's as popular as apple pie.

• Advertisements that a computer company sprinkles in a computer magazine like hidden gems.

• An independent consumer education website that reviews and rates computers like a tech Sherlock Holmes.

• Advice from a salesperson in a computer store who earns commissions on sales, like a savvy market trader.

Imagine you're the boss of your own startup! You're about to create a budget. What do you think should be included in it?

• All the money coming in and going out.

• Only the fixed expenses, forget about the income.

• Only the income, forget about the variable expenses.

• Fixed and variable expenses, but let's not worry about taxes.

Imagine you're an adult (if you're not already!). Which of the following would you consider a variable expense?

• The amount you spend on fancy dinners and take-outs each month.

• Your monthly rent for your cool apartment.

• The monthly payment for your shiny new car.

• Your monthly payment for health insurance.

Imagine you're a superhero called Budget Buster, and your mission is to help your friend's parents from going over their budget for the month. Which expense would you zap away as it is NOT a need?

• Rent payment

• Car insurance

• Cable service

• Groceries

Imagine you're on a shopping spree and you spot two different brands of your favorite item. Knowing the unit prices of both, what superpower does this information grant you?

• Unleash your inner detective and compare the prices of the two brands

• Transform into a psychic and estimate how much of the item you will need

• Turn into a quality inspector and determine which of the two brands is higher quality

• Become a math whiz and figure out the discount during a sale on the two items

Imagine it's your birthday and you've just received a $50 gift! You decide to splurge it all on some snazzy new wallpaper for your room. Now, what would you consider as the opportunity cost of this decision?

• The price tag on the wallpaper you picked out.

• All the other cool stuff you could have bought with your $50.

• The time you could have spent chilling instead of shopping for wallpaper.

• All of the above

Pop quiz time! Can you spot the statement that is NOT true about a budget? Remember, we're looking for the one that's NOT true. No peeking at the answers!

• Option 1: Budgets are like a roadmap, they help you plan how to spend the money you earn or receive.

• Option 2: Once you've made your budget, it's set in stone. No changes allowed!

• Option 3: A budget can include a little something for those in need, like donations to charities.

• Option 4: Budgets are a balancing act, they include both expenses and income.

Pop Quiz! Which of these is NOT a winning strategy for budgeting?

• Stashing some extra cash in your budget for those unexpected rainy days.

• Whipping out the credit card when sticking to a budget feels like a Herculean task.

• Prioritizing your most important needs - because needs come before wants, right?

• Regularly revisiting and tweaking your budget - because change is the only constant!