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PF: F.A.3.6 - 3.7

Authored by David Kubotsu

Mathematics

9th - 12th Grade

CCSS covered

Used 4+ times

PF: F.A.3.6 - 3.7
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do “paying yourself first” and “automating your savings” have in common?

They both require you to use online or mobile banking

They both focus on making sure you can afford necessities like housing and transportation

They both prioritize saving money before you have the opportunity to spend your entire paycheck

They both require you to make a middle class income before you become eligible to use them as your saving strategy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 50/30/20 Rule suggests that you budget your money into___

50% savings, 30% needs, 20% wants

50% needs, 30% wants, 20% savings

50% needs, 30% debt repayment, 20% savings

50% wants, 30% savings, 20% needs

Tags

CCSS.7.SP.A.2

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Most savings strategies focus on these two actions:

Spend less money and make saving a higher priority in your budget

Spend less money and change where you do your banking

Earn more income and donate more to charity

Keep a tight budget and eliminate fun temporarily

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Misty is going to use the 50/30/20 rule in order to save $3000 for her family’s next big vacation. Her monthly income is $2500. How many months will it take her to reach her savings goal?

2.4 months

4 months

5 months

6 months

Tags

CCSS.6.EE.B.7

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What are some common savings challenges faced by individuals?

Inadequate budgeting skills

Low income

Lack of discipline, impulse spending, high expenses, and unexpected emergencies.

Lack of financial literacy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

How can mobile apps help in saving money?

Mobile apps can help in saving money by increasing spending habits.

Mobile apps can help in saving money by providing investment advice.

Mobile apps can help in saving money through budgeting tools, expense tracking, and discounts/coupons.

Mobile apps can help in saving money by offering cashback rewards.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does it mean if a person lives paycheck-to-paycheck?

They use their entire paycheck to cover monthly expenses and have very little money saved

Their income varies month-to-month and they save a large portion of their biggest paychecks

They use direct deposit, so their paycheck is automatically split between their checking and savings accounts

They have high-paying jobs, so don’t have to worry about how much is in each paycheck

Tags

CCSS.L.4.5B

CCSS.L.5.5B

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