CHAPTER 3-PERS. FIN-TEST

What causes a person to generate wealth is that you ______ some of your money, each month.

• keep or save

• spent

• lost

• gave away

Saving is ______ a part of your budget.

• always

• never

• sometimes

• rarely

In America, nearly 8 out of 10 families live ______ to paycheck.

• paycheck

• month

• year

• day

You will have a financial ______ at some point in your life.

• emergency

• windfall

• surplus

• deficit

Why is self-discipline the key to becoming a good saver?

• It helps in setting and sticking to a budget.

• It allows for impulsive spending.

• It encourages borrowing money.

• It leads to financial instability.

What are some long-term consequences of not learning to save while you're young?

• Financial instability in adulthood

• Inability to afford retirement

• Accumulation of debt

• All of the above

The first reason to save money is to build your ______ fund.

• emergency

• vacation

• shopping

• party

The second reason to save money is for ______ purchases.

• large

• small

• frequent

• unnecessary

The third reason to save money is for ______ building.

• wealth

• health

• relationship

• career

Start saving while you're ______.

• young

• old

• busy

• tired