Personal Finance Final

Which costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

• Dining out at local restaurants

• Loan payment on a new car

• Expenses for new clothes

• Postponing a purchase for a big-screen TV

• 6 months

• 1 year

• 2 years

• 3 years

If you are trying to substantially reduce the amount you spend on food, you should try...

• Cooking your own food at home for as many meals as possible

• Dining at restaurants more often so you don't waste water doing dishes

• Eating more snacks on the go and way fewer meals at home

• Drinking more coffee and soda so you are not as hungry for food

Leila just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now?

Greg is trying to decide whether he needs a car when he moves to the city. Which of the following would be a reason for Greg to get a car rather than use public transportation?

• There are several public transportation routes between Greg's apartment and work

• The cost of public transportation is less than Greg’s monthly car payment

• Greg’s company covers half the cost of his monthly public transportation pass

• Using public transportation, Greg’s commute to work one-way is two hours

Which of these boxes of cereal has the LOWEST unit price?

• Cereal A, which costs $3.20 for a 16 oz. box

• Cereal B, which costs $5.00 for a 32 oz. box

• Cereal C, which costs $2.50 for a 10 oz. box

• Cereal D, which costs $4.50 for an 8 oz box

• His gross and net pay are $3,000

• His gross and net pay are $2,500

You are interested in renting an apartment after graduating college. You meet with the landlord and complete the application. All of the following may need to be provided when you sign your lease EXCEPT

• Proof of employment

• A bank account

• First and last month's rent

• A security deposit

All of the following are good budgeting strategies if you want to save money at the grocery store EXCEPT:

• Focusing on unit price when comparing similar products

• Building a weekly meal plan around items you already own or items that are on sale that week, rather than just choosing foods you'd like to eat

• Focusing only on the price when comparing similar products

• Preparing a grocery list before you go to the store and avoiding buying items that aren’t on the list