Financial Literacy Quiz, GEP-3 V-U3

If your "expenses" are high, you are likely:

• a) saving a lot of money

• b) spending a lot of money

• c) earning a high income

• d) not using a budget

If you want to avoid being "broke," it's important to:

• a) spend all your money as soon as you earn it

• b) create a budget and stick to it

• c) max out your credit cards for emergencies

• d) borrow money from friends and family

Someone who is "broke" is:

• a) wealthy and financially secure

• b) out of credit card debt

• c) very good at saving money

• d) has no money left

A "shopaholic" might have a problem with:

• a) always comparing prices

• b) spending too much money

• c) forgetting to bring shopping bags

• d) not liking crowded stores

Saving "for a rainy day" means saving money for:

• a) a luxurious vacation

• b) an upcoming birthday present

• c) unexpected events or emergencies

• d) a shopping spree with friends

A "thrifty" person would likely:

• a) only buy expensive name brands

• b) look for ways to save money

• c) never clip coupons or discounts

• d) enjoy throwing away unused items

Sticking to a budget means:

• a) forgetting about your financial goals

• b) following your spending plan

• c) ignoring any good sales opportunities

• d) spending as much as you want freely

An opposite of a "shopaholic" would be someone who:

• a) enjoys browsing stores without buying

• b) only shops online for convenience

• c) needs to be persuaded to make any purchase

• d) always maxes out their credit cards each month

When you "run out of" money, you have:

• a) a lot of extra cash on hand

• b) no more money left to spend

• c) just started to earn a paycheck

• d) found a hidden stash of forgotten bills

You might "resist" the urge to buy something if it is:

• a) on sale for a great price

• b) exactly what you've been looking for

• c) more expensive than you budgeted

• d) a gift for a loved one