Money-Chapter 10 CS

Elijah, Grace, and Oliver are planning a fun game night. They want to manage their money wisely for the event. What should be their main steps for money management?

• • Focus on increasing their income and spend as much as they want

• • Focus on decreasing their expenses and don’t worry about how much they earn

• Increase their income, decrease their expenses, or do both

• • None of the above

Hey Ava, Charlotte, and Mia! Can you guess what the biggest factor in your long-term financial well-being is?

• • Is it the state of the overall economy?

• • Could it be the interest rates on your credit cards?

• • Maybe it's the federal deficit?

• Or, is it your daily behavior?

Kai, Ava, and Jackson are having a debate. Kai thinks that privately-owned companies generally offer better student loans than the federal government. Ava and Jackson aren't so sure. Who do you agree with?

• I agree with Kai (True)

• I agree with Ava and Jackson (False)

Imagine Aria, Arjun, and Mia are participating in a game show. The host asks them, 'The main point of the Power Process: “Risk being a fool” is that mastery in most activities calls for the willingness to do something new, to fail, to make corrections, to fail again. Do you agree with this statement?'

• True

• False

Maya, Evelyn, and Charlotte are discussing about the major types of financial aid. They all agreed on two types, but got stuck on the third one. They do not consider which of the following as a major type of financial aid?

• • Money that you don’t have to pay back

• • Money that you do have to pay back

• • Work-study assignments

• Full-ride scholarships

Scarlett, Oliver, and Elijah are discussing strategies for using credit cards effectively. They all agree on most points, but there's one strategy they do not agree on. Which one is it?

• • Choosing cards with no annual fees and lower interest rates

• • Paying off the full balance due each month

• • Avoiding cash advances

• Using several credit cards so that you can spread around your unpaid balances

Anika, Noah, and Benjamin were having a discussion about financial planning. They read a text that recommends saving for long-term goals such as retirement before having an emergency fund in place. Do you think this is true or false?

• True

• False

Imagine this scenario: Samuel, Jackson, and Anika are all students who are considering dropping out of school due to financial reasons. According to the text, they can often benefit by reframing their problem as:

• • A) “I can’t afford it”

• • B) “I don’t know how to pay for it”

• • C) “I don’t think it’s worth it”

• • A and C

• B and C

Imagine this, Olivia and Aiden are having a friendly debate. Olivia argues that you should manage money based on the belief that there are limits to how much money you can earn. Aiden, on the other hand, disagrees. Who do you think is right?

• Olivia

• Aiden

Imagine Aria, Grace, and Olivia are having a friendly competition to see who can save the most money in a year. According to the text, the best strategy they could use is to start by examining how much they spend on “small ticket” (low-cost) items over the course of the year. Is this true or false?

• True

• False