Wilkins Personal Finance Quiz 2

Which would be considered a short term goal?

• Saving for a family vacation in the next three months.

• Deciding to Learning a new language in 2026.

• Running a marathon next year.
• Saving for a vacation in two years.

Which of the following are itemized summaries of the expected income and expenses for a defined period, typically one month?

• Budgets
• Financial reports
• Expense trackers
• Income statements

Susan has total assets of $120,000 and total liabilities of $80,000. What is her net worth?

• $60,000
• $40,000
• $100,000
• $20,000

The M in the goal-setting acronym, SMART, stnds for "Manageable."

• True

• False

__________________ are goals which can be achieved in less than a year's time.

• Immediate goals
• Long-term goals
• Lifetime goals
• Short-term goals

Which of the following is the sum of the individual's current assets minus the individual's total liabilities?

• Total equity
• Net worth
• Current ratio
• Gross income

Select all of the following which are common budgeting strategies.

• Separating needs from wants

• Creating a savings plan

• Establishing an emergency fund

• cash flow analysis

Which of the following money personalities is described as a person who enjoys spending their money on themselves or others rather than saving it?

• Spender
• Budgeter
• Investor
• Saver

Which of the following refers to individuals who do not consider money as a necessity and do not have much of an opinion on money?

• Risk takers

• Flyers

• Security seekers

• Spenders

Budgets rely on balance.

• True

• False