NEW
Font size
WorksheetsFinancial Planning
Total questions: 15
Worksheet time: 8mins
This is an example of a "Financial Goal"
Graduating from college
Becoming a teacher
Learning to play an instrument
Purchasing a new home
Choose the "Unexpected Expense"
Groceries each week
Storm damage repairs
School clothes
Netflix subscription bill
What does a person's will list?
Financial goals
Types of insurance they have
Retirement plans
Financial plan upon death
What is "Earned Income"?
A birthday gift
Winning the lottery
Unemployment compensation
Salary
How do taxes affect your financial plans?
They create higher interest rates
They affect how much money you actually have to spend
They make your saving account increase
They affect the GDP
What are Social Security taxes used for?
Building schools
Unemployment compensation
Income for retired and disabled people
Transfer payment
What is a tax bracket?
The rate at which income is taxed
The rate of sales tax in a state
The form used to file taxes
The way taxes are calculated
What type of information is included on a 1040 form?
Your financial projection
A list of all expenses
Gross and net income from last year
Your bank statement from last year
Choose the "Fixed Expense".
Mortgage payment
Groceries
Electric bill
Clothing
What is true about "Needs"?
They are items such as an expensive vehicle
They are also called "Non-discretionary" expenses
They are also called "Discretionary" expenses
They are usually fun to pay for
Which is a feature of a desk-top computer?
Portable
Memory size
Color
It's small
Which is a "Long-term Financial Goal"?
Buying gifts for your friends
Going in vacation to Pennsylvania
Retirement
College
Define a "Financial Reserve"
An amount of money set aside to reach long-term goals
An amount of money set aside in case of accidents, damages or health issues
Money you should use to purchase a new car
Money set aside to pay for gasoline
Which of the following is a "Variable Expense"?
Subscriptions
Groceries
Rent
Car payment
A "Financial Resource" includes
Antiques
Debt
A Loan from a friend
Your parents
