EverFi Smart Money Habits

Alida works from home. Which item is a want for her?

• Cell Phone

• Internet

• Groceries

• Streaming Service

Jasmine just received her paycheck. To manage her money, she categorizes spending by needs, wants, and savings and debt. What money management strategy is Jasmine following?

• envelope method

• 50-30-20 rule

• pay yourself first

• managing money

How is the money divided using the 50-30-20 method?

• 50 savings

  30 wants

  20 needs

• 50 needs

  30 wants

  20 savings

• 50 wants

  30 needs

  20 savings

• 50 stocks

  30 clothes

  20 fun

Which of these is an example of an unexpected expense you should use your emergency fund for?

• A new video game coming out that you forgot about

• A last minute vacation your friends planned

• A flat tire in your car you drive to work every day

• The latest iPhone going on sale

The act of saving money first each paycheck before buying things you want is called...

• Pay Yourself First

• Budgeting

• 50/30/20

• Envelope

Tarik works in a restaurant and gets paid in cash. He's used to dealing in cash, but he needs a system to help

• 50-30-20 Method

• Envelope Method

• Investing in Stocks

• Avoiding debt

A goal that is a year or less away is considered a...

• short term goal

• medium term goal

• long term goal

• smart goal

A goal 1-5 years away is considered a...

• short term goal

• long term goal

• medium term goal

• smart goal

You are saving for retirement and it's 40 years away. This is an example of a...

• short term goal

• long term goal

• medium term goal

• smart goal

A plan for your income and expenses during a set period of time...

• budget

• money management

• tracker

• smart goal