Personal Finance Quiz

Making the right choices with your money involves knowing how...

• Earning, budgeting, saving, spending, and giving affect your money
• Consumer decisions will affect your accounts

• Planning, saving, spending, and investing will define your financial portfolio

You should always make sure you have a...

• Budget
• Debit Card

• Credit Card

To gain an understanding of your personal finances, you should know...

• Where you stand financially, how much income you have, what goals you want to set, and how you'll reach them
• How much income you have

• Your investment portfolio and your financial advisor's contact information

Personal finance is all the financial decisions an ____________ must make in order to earn, budget, save, spend, and give money over time.

• Individual or family
• Company or organization

• Individual or company

After WW1, the demand for products increased, and people began getting credit without a loan shark. Because of this, credit...

• Started to become more socially acceptable
• Was offered at even higher interest rates

• was devalued in the marketplace

A money principle to keep in mind is to live on ____________ you make.

• Less than
• More than

• the same as

To know your net worth, subtract your liabilities from your ____________.

• Assets
• Net Income

• Other liabilities

If your assets total more than your liabilities, you will have a ___________ net worth.

• Negative
• Equal
• Positive

Which of the following is not a component of a budget?

• Credit Score

• Saving

• Spending

What does a budget show you?

• How much money you plan to come in and out during the month

• How much you need to earn

• How much you need to spend next year