Chapter 8: Budget Busters
Authored by Mary Evans
Other
6th - 8th Grade
Used 1+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
The sooner you begin saving, the more time your money has to grow.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
Disposable income is the amount of money left after paying all current necessities, such as rent, food, and clothing.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
Net worth is the value of all of your liabilities minus your assets.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
Short-term savings is money you put away for major expenses in the future.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 4 pts
The amount earned on the principal savings or investment is called interest.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The concept of paying into your savings first, and then living on the remainder of your take-home pay is called
Net pay
Pay Yourself First
Long-term savings
Disposable income
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of the following is considered to be an asset?
Bank account
Apartment
Student loan
Cell phone contract
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