Personal Finance

What is this?

• The Investment Risk Pyramid

• Credit score

• Credit card

• Debit Score

What is the purpose of a budget?

• To help people drive safer

• To lead a healthier life and become rich

• To help people work more productively

• To help people plan their spending and saving decisions

Which of the following is the most financially responsible decision?

• Macy earned $40 washing cars. She donates it all to save the turtles.

• Jana earns $10 for doing chores. She gets one toy at the dollar store and saves the other $9.

• Jackson receives $20 for his birthday. He spends $30 at target.

• Brendyn earns $50 selling his video games. He spends $50 on new video games.

Donald wants to become a millionaire. What should be included in his plan to become a millionaire?

• How much money he spends on suits

• How he plans to spend money on himself

• The amount of money he plans to donate to charity

• His plan for saving money over a long period of time

Jed said he has balanced his budget. What does Jed mean?

• His income is less than his expenses.

• His donations to charity are included in his expenditures.

• His income is greater than his donations to charity.

• His income is equal to or more than his expenditures.

Why is it important to prepare and follow a budget?

• A budget increases a persons income.

• A budget helps people make responsible economic decisions.

• Budgets help people stick to a health plan.

• Budgets help determine the best educational plan for a student.

Which of the following is a benefit of having a personal savings plan?

• A savings plan helps people spend more of their time doing the things they love

• Having a savings plan helps people find a better job that pays more money

• Having a savings plan means you are able to spend more money in the future.

• A saving plan helps people maintain balance between their health and their wealth

You cut the grass. Your parents give you $5. What is that called in a personal budget?

• Expenditure

• Donation

• Income

• Expense

Which of the following is an expenditure?

• allowance from your parents

• buying an ice cream at lunch

• Selling an old game to a friend

• Getting paid for helping your neighbor

Which is an example of income?

• Money you get for raking leaves

• Money you give to charity

• Money you spend on ice cream

• Money you waste on bubble gum