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WorksheetsSaving and Budgeting Chapter 1
Total questions: 23
Worksheet time: 11mins
Name
Class
Date
1.
Anything of value that is owned by an individual
a)
Budget
b)
Liability
c)
Asset
d)
Consumer
2.
A monthly plan for how you are going to save and spend your income.
a)
Budget
b)
Net Worth
c)
Expense
d)
The Five Foundations
3.
Interest paid on an investment and on any interest previously earned.
a)
Compound Interest
b)
Simple Interest
c)
Debt
d)
Credit
4.
A person or organization that purchases a product or service.
a)
Producer
b)
Consumer
c)
Behavior
d)
Nonprofit Organization
5.
The granting of a loan and the creation of debt.
a)
Debit
b)
Credit
c)
Interest
d)
Budget
6.
An obligation to repay borrowed money.
a)
Personal Finance
b)
Budget
c)
Debt
d)
Consumer
7.
The cost of goods or services.
a)
Expense
b)
Behavior
c)
Scarcity
d)
Knowledge
8.
The fee for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest.
a)
Net Worth
b)
Interest
c)
Personal Finance
d)
Asset
9.
Money put into an account intended for growth.
a)
Liability
b)
Debt
c)
Budget
d)
Investments
10.
Anything you owe; a debt.
a)
Liability
b)
Interest
c)
Consumer
d)
Asset
11.
The total value of a person's assets (things owned) minus their liabilities (things owed).
a)
Budget
b)
Investments
c)
Net Worth
d)
Personal Finance
12.
A federally recognized, tax-exempt organization such as a church, hospital, charity, or school that serves the public in some capacity.
a)
Investments
b)
Nonprofit Organization
c)
Fifth Foundation
d)
Scarcity
13.
All the money decisions a person or family makes including earning, budgeting, saving, spending, and planning for the future.
a)
Budget
b)
Fourth Foundation
c)
Simple Interest
d)
Personal Finance
14.
Interest paid only on the principal investment.
a)
Compound Interest
b)
Simple Interest
c)
Net Worth
d)
Consumer
15.
An unlimited amount of wants but limited money.
a)
Scarcity
b)
Debt
c)
Interest
d)
Liability
16.
Save a $500 emergency fund
a)
Second Foundation
b)
First Foundation
c)
Third Foundation
d)
Fourth Foundation
17.
Get out of debt
a)
First Foundation
b)
Second Foundation
c)
Third Foundation
d)
Fourth Foundation
18.
Pay cash for your first car
a)
First Foundation
b)
Second Foundation
c)
Third Foundation
d)
Fifth Foundation
19.
Pay cash for college
a)
First Foundation
b)
Second Foundation
c)
Third Foundation
d)
Fourth Foundation
20.
Build wealth and give
a)
Second Foundation
b)
Third Foundation
c)
Fourth Foundation
d)
Fifth Foundation
21.
The things you do with money
a)
Knowledge
b)
Behavior
c)
Consumer
d)
The Five Foundations
22.
What you know about money
a)
Knowledge
b)
Behavior
c)
Personal Finance
d)
Consumer
23.
The Financial Peace beginner steps
a)
Personal Finance
b)
Budget
c)
The Five Foundations
d)
The First Foundation
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