EVERFI: Smart Money Habits

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

• Cell phone

• Internet

• Groceries

• Streaming Service

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

• The envelope method

• 50-30-20 rule

• Managing money

• Pay yourself first

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

• Needs, wants, savings

• Needs, stocks, bonds

• Savings, expenses, emergencies

• Wants, needs, retirement

Dominic has four unexpected expenses, including a broken TV, increased insurance costs, a broken-down car, and a hole in a shoe. Which of these expenses would be considered an emergency?

• Television

• Insurance

• Car repairs

• New shoes

Which list describes needs?

• Shelter, warmth, food

• Warmth, entertainment, shelter

• Entertainment, electronics, food

• Electronics, food, shelter

Tarik works in a restaurant and gets paid in cash. He's used to dealing in cash, but he needs a system to help him physically divide his cash each month. What money management strategy should Tarik use?

• 50-30-20 Method

• Envelope Method

• Investing in stocks

• Avoiding debt