Financial Fun: Quiz Your Knowledge!

Which of the following is a fixed expense in a college student's monthly budget (aka the one thing you can't pay with ramen noodles)?

• Movie tickets

• Rent

• Coffee shop visits

• Concert tickets

What does a credit score primarily measure—besides your ability to panic when checking it?

• Your annual income

• Your ability to repay borrowed money

• The number of credit cards you own

• Your age

Which of the following is considered a type of investment (besides investing in your love for pizza)?

• Savings account

• Textbooks

• Fast food meals

• Gym membership

If your wallet could talk, how many months of expenses would it beg you to save for emergencies before it starts panicking?

• One week of expenses

• One month of expenses

• Three to six months of expenses

• One year of expenses

Which of the following is a strategy for managing debt effectively (and not starring in a financial horror movie)?

• Ignoring your bills and hoping they disappear like socks in the dryer

• Making only the minimum payment every month and calling it a day

• Creating a repayment plan and actually sticking to it (wild, right?)

• Taking out more loans to pay off old ones—because what could possibly go wrong?

If you want to save $600 for a new laptop in 6 months (because your current one sounds like a jet engine), how much should you save each month?

• $50

• $75

• $100

• $150

Why should a college student bother setting financial goals? (Hint: It’s not just to buy unlimited instant noodles!)

• To impress your friends

• To have a clear plan for managing money and achieving future needs or wants

• To spend more money on entertainment

• To avoid making any budget

A student receives a $1,200 scholarship and wants to use it wisely. Which of the following is the most strategic use of the money (besides buying a lifetime supply of instant noodles)?

• Spend it all on a vacation

• Use it to pay for textbooks and save the rest for emergencies

• Buy new clothes

• Host a big party

Your credit card balance seems to be on a growth spurt, despite your minimum payments. What’s the best way to stop it from becoming the next financial superhero?

• Pretend it’s invisible and hope it disappears

• Give your payments a workout and put your spending on a diet

• Adopt another credit card for company

• Go on a cash-only treasure hunt

You've just survived another month and found $500 hiding in your bank account after paying all your bills. You want to invest, save for a rainy day, and maybe treat yourself to something fun (like a pizza party for one). How should you split your cash to keep your future self, your emergency fund, and your inner party animal happy?

• Blow it all on entertainment and become a legend (for one night)

• Throw all $500 into a wild investment and hope for the best

• Share the love: some for savings, some for investments, and a little for fun

• Stash it in your wallet and pretend you’re a dragon guarding treasure