Mr. Ammon's Financial Literacy Final

Name one budgeting strategy and explain how it works.

Name two Pro's and Con's of a Checking account

Name 3 types of investments

Leila just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now?

• Average rent for an apartment

• Food and grocery store options in the area

• Employment opportunities

• Average cost of Taxi fare, Uber, and Lyft

Choose the correct answers for characteristics between Investors and Traders

Groups:

(a) Investors

,

(b) Traders

• High Risk

• Long Term Investments

• Hold onto stocks for a long period

• Low Risk

• Short Term Investments

• Sell investments quickly

Organize these options into the right categories

Groups:

(a) Need

,

(b) Want

• Bicycle

• Phone

• Clothing

• Shelter

• Video Game

• Food

What is the purpose of a budget?

• The purpose of a budget is to limit income and increase expenses
• Balancing out your expenses in order to live paycheck to paycheck

• To spend money without considering the impact that it may have on your expenses

• A way to balance income and expenses to meet financial goals

What is Gross Wage?

• Total amount of money saved
• Amount of money spent on taxes
• Total amount of money earned before deductions
• Net income after deductions

What type of expense happens on a repeated basis, typically on a certain day/date?

• Non-recurring expense

• Regular expense
• Day to Day expense

• Fixed/Recurring expense

What type of budget requires you to put money into different categories?

• 50/30/20

• Envelope

• Pay yourself first

• Zero based budet