Intro to Business Fall 2024 Final

Are money left over after expenditures are set aside for future use.

• Investments
• Retirement
• Social Security
• Savings

What is the 50-20-30 budget rule?

• A method for dividing your paycheck into four categories
• A technique for saving all your income
• A method for dividing your paycheck into three categories: essentials, savings, and wants
• A way to spend your entire income on wants

What is the first step in buying a new car according to?

• Choose the right type of vehicle
• Research car prices
• Test drive the car
• Secure financing

Which of the following is NOT listed as a cost when buying a car?

• Maintenance
• Insurance
• Registration fees
• Gym membership

What is one way to save money if your rent is too high to save for buying a home?

• Reduce grocery expenses
• Move to a cheaper apartment
• Stop using the internet
• Buy a smaller car

What should you consider before making the decision to rent or buy a home?

• The color of the house
• Your financial situation
• Where you live
• What stores are nearby

What is a key factor when buying a home?

• Favorite neighborhood
• Credit score
• Number of bedrooms
• Proximity to a beach

Which of the following is an advantage of buying a home?

• Easier to relocate
• Potential tax benefits
• Less maintenance responsibility
• Lower upfront costs

What is one of the steps involved in buying a home?

• Decide on your favorite car brand
• Secure a mortgage pre-approval
• Purchase new furniture
• Choose a vacation destination

What should you do after test driving a car?

• Make an offer immediately
• Review your budget and financing options
• Visit another dealership
• Check the car's color options