Goal Setting Quiz: EVERFI: Grow

Ali wants to buy a new laptop. He writes down a goal of saving $1,200. What detail is this goal missing?

• It is not measurable.

• It is not attainable.

• It is not realistic.

• It is not time-based.

Zoya's friends invited her to go on a trip abroad during summer vacation. She's excited to go and writes down a goal of saving enough money over the next five months. What detail is this goal missing?

• It is not measurable.

• It is not attainable.

• It is not realistic.

• It is not time-based.

When is using a credit card to cover an emergency expense a good idea and won't cost you any interest?

• When you have a high enough credit limit to cover the emergency expense

• When you can pay off the balance in full before the end of the month

• When you have a low interest rate

• When you can make the minimum payments each month

Which of the following are ways to balance expenses and savings? Select all that apply.

• Pay yourself first.

• Utilize maximum credit.

• Save for retirement.

• Take out personal loans.

Paying yourself first, sticking to a budget, pacing yourself, living within your means, and knowing where your cash goes are all ________________.

• ways to afford everything you want

• ways to balance expenses and savings

• guaranteed to prepare you for every expense

• ensure that you are able to retire comfortably

Why should you keep track of how much money you spend on items like food, gas, and going out each week?

• So you can know where your cash goes.

• So you can know when to use credit or debit

• So you can be sure to save enough money each month

• So you can meet your savings milestones

A goal to save money for a new saxophone is _______.

• measurable

• specific

• expensive

• attainable

• time-based

I will save $10,000 for the down payment on a house by saving $500 per month for the next 20 months. Which part of a SMART goal is this statement most likely missing?

• specific

• measurable

• realistic

• time-based

I will save money for retirement by depositing a little money from each paycheck over the next forty years. Which part of a SMART goal is this statement most likely missing?

• specific

• attainable

• realistic

• time-based

I will save money to buy a used car. Why is this not a good example of a SMART goal?

• It’s neither specific nor time-based.

• It's not attainable.

• It’s not realistic.

• None of the above