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WorksheetsMoney Habits Lesson Review #1
Total questions: 36
Worksheet time: 2hrs 29mins
If you spend $3 for water bottles at the gym and you work out 3 times each week, how much are you spending in a year for bottled water?
$468.00
$350.00
$268.00
$130.00
Your LA Workout World membership costs you $29.99 a month, and you haven't gone to the gym in several weeks! How much are you spending on this each year?
$359.88
$413.88
$341.88
$314.88
Many teens find when they stop buying something out of habit and start buying it only when they REALLY want it, they end up enjoying it ______________.
less
more
the same
If you spend $4.48 each school day on a venti iced mocha choca latte, how much are you spending in a month for your drinks?
$711.46
$89.64
$97.65
$117.64
Food, water, a place to live, clothes to wear are examples of
Needs
Wants
Luxuries
The following are wants, not needs (select all that apply):
Monthly subscription for Cable TV
Unlimited data plan for your smartphone
A replacement jacket for the one that you have worn for 10 years and is in need of repair
Grooming products and cosmetics
Brands are increasingly using ___________ to market products to Generation Z, 46% of whom follow more than 10 of them on social media.
influencers
curators
activists
researchers
A second jacket that looks good on you is a __________________
need
want
If you spend $2.75 each school day for snacks at lunch, how much are you spending for the school year for these treats?
$495.00
$549.00
$258.00
$594.00
Sometimes, the decision about whether something is a need or a want depends on your
income level
goals
values
Needs can be defined as basic shelter, basic clothing, and basic food. All the things outside those categories are wants.
true
false
Waiting until you know you can afford something is known as _______________.
your values
wants
needs
delayed gratification
Aaron realizes he has a budget deficit of roughly $175 at the end of two months in a row. Which of these options makes the most sense for him to fix his problem?
Cancel his cable TV subscription and go out to dinner three fewer times each month with friends.
Sell his current car and get a less expensive vehicle.
Start paying just the minimum monthly payment on his student loan and credit card debt, instead of the extra he's been contributing.
Contribute $100 less to savings each month and $75 less to his retirement fund.
When it comes to spending or deciding how to use your income, what does discretionary spending refer to?
The money that you spend on impulse while at the shops.
Money left over (or budgeted) once all essential items have been taken care of.
Money that is specifically put aside to pay for essential items such as rent, tax, basic food requirements, basic clothing requirements.
There is no place for discretionary spending in a personal budget
Values are shaped by all of the following EXCEPT ______________
experiences
wants
family and friends
beliefs
Ideas and beliefs that are most important or most meaningful to you.
needs
your values
wants
delayed gratification
You (and your favorite teacher) love Chipotle! You bump into each other on the weekend and realize you go once each week! You always order the same thing: a steak burrito with guacamole, chips and salsa on the side, and a large drink. The bill comes to $15.17 each time. How much are you spending for your Chipotle fix every month?
$60.68
$68.60
$115.17
$45.17
True or False: The MINIMUM amount you have to pay on loans and credit cards is a need, not a want.
true
false
Putting spare change in a jar every night is an example of a
wise money habit
unwise money habit
neutral money habit
According to the activities and resources you reviewed throughout the lessons, which social media platform has the most influence on shopping habits?
Saving at least 25% of your paycheck every week for the future.
good spending habit
bad spending habit
Buying an outfit for $100 when you only have $50 in your bank account.
good spending habit
bad spending habit
Paying off your monthly credit card bill every month.
bad spending habit
good spending habit
Using coupons when shopping for items.
good spending habit
bad spending habit
The practice of offering multiple, usually related, goods and services at a lower price than if each item were purchased separately. This is great if you’ll use the entire bundle, but a waste of resources and money if you don’t.
Aspirational buying
Bandwagon appeal
Bundling
Eye candy
Visual images that are superficially attractive and entertaining but are unnecessary or unrelated to the subject at hand, such as flashing lights and attractive spokespeople.
Aspirational buying
Bandwagon appeal
Bundling
Eye candy
One of the top spending categories for teenagers is…
vacations
medical expenses
food
hobbies
All of the following are true about the impact of social media and influencers on a consumer’s decisions EXCEPT…
Influencers always use credible sources when making recommendations and sharing information with their followers
Consumers may decide to purchase something they don’t necessarily need
Social media can repeatedly show a consumer advertisements for products they were looking at
Certain products may go out of stock in record time due to buying trends driven by social media
David wants to start using social media more mindfully. Which of the following is a good next step for him to do so?
Curate his feed so that he sees fewer posts from friends, family, and influencers who make him feel like he needs to spend more
Have a friend or family member frequently change his social media account passwords to decrease how often he logs in
Schedule time for him to binge use social media three times a year. Otherwise, he stays logged out of his accounts.
Delete all of his social media apps immediately to avoid spending
What impact has TikTok had on the music industry?
It has made everyday people celebrities.
It has influenced the top songs on the Billboard charts.
It has caused companies to run out of their products.
It has increased consumer spending on the app.
What is the phenomenon called when users watch convincing product review videos or see their favorite influencers posting about products?
TikTok frenzy
Viral buying
Influencer marketing
Tick-tock made me buy it
How much consumer spending happened on the TikTok app in 2021?
$1.3 billion
$2.3 billion
$8 billion
$77 billion
According to a 2021 survey, what percentage of TikTok users confessed to purchasing a product after seeing it advertised on the app?
25%
49%
10%
94%
What has TikTok disrupted in terms of social media marketing?
Consumer spending habits
Product advertising
Influencer marketing
Digital platforms
According to the article you read as part of your LAs, what is one reason why people overspend because of social media?
They are influenced by advertisements.
They want to keep up with their friends' lifestyles.
They feel pressured to buy trendy products.
They receive discounts and promotions on social media.
According to the article you read as part of your LAs, What advice does the text give to reduce spending on social media?
Unfollow influencers and brands.
Delete all social media accounts.
Avoid using online shopping apps.
Ignore advertisements on social media.
