Financial Decisions and Goals

Which of the following statements about our interactions with money is NOT considered to be true?

• You are responsible for your present self and your future self

• Your present self impacts your future self

• You are better off in a community than by yourself

• Investment increases risk and reduces your ability to cope with risk and uncertainty

Carter wants to participate in an activity that will improve his well-being. Which activity would contribute the least?

• An activity his friends like to participate in

• An activity that doesn’t cost much money

• An activity that his teacher suggested to him

• An activity that makes him lose track of time

Tags

CCSS.RL.9-10.3

CCSS.RL.8.3

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.11-12.6

Jenna wants to improve her financial well-being. Which choice would contribute the most?

• Take a personal finance class to learn how to manage her money

• Pay her grandma back the money she borrowed

• Talk to her friends about managing money better

• Open another checking account

Jacob is wondering how to improve his intellectual well-being. Which would contribute the most?

• Go to the gym three times per week

• Challenge himself by taking on a new project at work

• Join a local service organization

• Take a vacation from work

Sylas is creating a timeline of his financial future. Where should the end of his financial planning timeline be set?

• When his financial goals are established

• When his money management plan has high well-being

• When he is 70 years old

• Never – it is an ongoing process

Erica wants her class project to reflect her values. Which items would be best to include?

• Things she intends to acquire or accomplish

• Things that are necessary for survival

• Things that reflect her fundamental beliefs

• Things unnecessary but desired

Tags

CCSS.RL.9-10.3

CCSS.RL.8.3

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.11-12.6

Which of the following is likely to have the least influence on an individual’s values?

• Media

• Family

• Religious affiliations

• Grade average

Tags

CCSS.RL.9-10.3

CCSS.RL.11-12.3

CCSS.RL.6.6

CCSS.RL.7.6

CCSS.RL.8.6

Which factor is NOT influenced by values?

• An individual’s choice of friends

• An individual’s daily decisions

• An individual’s life cycle position

• An individual’s financial decisions

Tags

CCSS.RL.9-10.3

CCSS.RL.11-12.3

CCSS.RL.6.6

CCSS.RL.7.6

CCSS.RL.8.6

Megan purchased a prom dress. Her mother said she is experiencing the consequences of her trade-off. Which situation best fits?

• She bought her dream dress and used money saved for new tires; now her tires need replacing and she’s short of cash

• She found a coupon that saved her 30%

• She chose the least expensive of three favorites

• She bought the most comfortable dress, though it cost more

Ian is shopping for a vehicle and analyzing the opportunity cost of a trade-off. Which situation best represents this?

• Comparing identical cars at dealerships 20 and 30 miles away

• Choosing between a car with a better sound system and one with 20,000 fewer miles

• Buying a car from an individual for less than a dealership

• Buying his brother’s used car with a good service history