WorksheetsPersonal Finance-Lesson 1
Total questions: 17
Worksheet time: 17mins
Financial Literacy is:
The ability to use knowledge and skills to make effective and informed money management decisions
Knowing all of the different forms of currency used throughout the world.
Being well read.
the active process of managing your resources to maintain a positive relationship with your money
Which of the following is NOT a basic principle of personal finance?
Spend less than you earn.
Always have the nicest and newest clothes.
Make your money work for you.
Protect your money.
Which of the following is not a category of financial decision making?
Saving
Spending
Spontaneous purchases
Investing
Which of the following is the FIRST part of financial decision making?
Identify alternatives
Decide
Consider the consequences
Evaluate the results
Identify the problem.
Check ALL of the factors that influence financial decision making:
Age
Budget
Habits
Your eye color
Time
Your values influence your financial decision making
True
False
Which of the following is NOT a need
Video Games
Food
Water
Shelter
All of the following ARE wants, except:
Electronics
A new haircut
Food
Video Games
Expenses are: is money that is received, often times on a regular basis for work or from investments
True
False
Income: is money that is spent.
True
False
Which of the following is NOT a type of expense
Variable
Fixed
Questionable
Which of the following is NOT an example of a fixed expense:
Groceries
Rent
Loan
Utilities
Which of the following is NOT an example of a variable expense:
Groceries
Clothing
Travel
Utilities
Gifts
All of the following are financial goals, EXCEPT:
Short Term
Unlimited Term
Long Term
Intermediate Term
Short term goals should take weeks or months:
True
False
Long term goals should take a year or more to accomplish:
True
False
Intermediate goals should be accomplished today:
True
False
