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WorksheetsCh 3 - Budgeting (PF)
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
At your age, a fully funded emergency fund should be (according to Dave Ramsey)
a)
$250
b)
$500
c)
$1,000
d)
$500
2.
Which of the following is not recommended in the debt snowball method of getting out of debt?
a)
Pay off one debt at a time
b)
Stop making credit card payments
c)
Prioritize your debts
d)
Start small
3.
When it comes to managing money, success is about __________ % knowledge and _________% behavior.
a)
80, 20
b)
20, 80
4.
Which of the following is not recommended when you are cash-flowing your college situation?
a)
Use all your paychecks to pay your college debts
b)
Apply for any and all scholarships available
c)
Maintain a good GPA
d)
Take only the easy classes
5.
Everyone should have the same financial plan. A budget that works for one person should be sufficient for everyone.
a)
true
b)
false
6.
When you're in high school, you won't have the same emergency expenses as your parents.
a)
true
b)
false
7.
When developing a personal financial plan, one of the first things you should do is assess your current financial situation. This includes your income, assets, and liabilities.
a)
true
b)
false
8.
Expensive houses and new cars are a true identification of wealth.
a)
true
b)
false
9.
It is okay to use a credit card if you pay it off every month (according to Dave)
a)
true
b)
false
10.
The best time to make your budget is after you've spent your money
a)
true
b)
false
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