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WorksheetsFinancial Management
Total questions: 25
Worksheet time: 30mins
What is financial planning?
How you can spend your money the fastest way possible
Managing money so that you can meet short and long term financial goals
a fancy term for budgeting
What is a SHORT term goal?
A financial goal you can reach within 1 year or less than 12 months
A financial goal you can achieve in more than a year ( over 12 months)
Select all of the LONG term goals listed below:
Buying a house
Buying a pair of shoes
Buying a car
Paying for college
Karen makes $1,000 a month working at Bojangles. She pays $450 in rent. How much money does she have per month after paying her rent?
$500
$450
$550
There are 12 months in a year. How many years is 48 months?
3
4
5
Jose wants to buy a new pair of Air Jordan 11's. They cost $300. He wants to buy them in 4 months. How much money should he save each month in order to buy the shoes?
$100
$50
$75
True or False:
Income is money you earn
True
False
True or False:
Expenses are things you spend money on
True
False
Select the TWO types of expenses
Must have's
Needs
Wants
Income
Convert 35% to a decimal
3.5
35.00
.35
Select TWO types of NEEDS
Housing
Xbox
Clothes
Unlimited data
Which of the following are all WANTS
Food, Clothing, Housing
Food, Video Games, Housing
Iphone 11, Video Games, Concert tickets
Select the THREE types of Expenses
Fixed
Constant
Variable
Periodic
What is an example of a FIXED expense?
New shoes
Groceries
Rent
Jose earns $1,000 a month. He spends 35% of his income on rent for his house. How much money is Jose spending on rent?
$35
$300
$350
What is an example of a VARIABLE expense?
Cable Bill
Water/electricity bill
Christmas gifts
Convert 7% to a decimal
.07
.007
7.0
Sophie earns $500 per month. She spends 15% on food/snacks. How much is she spending?
$75
$100
$15
Select the FOUR types of Financial Institutions
Your piggy bank
Commercial Banks
Credit Unions
Payday Loans
Savings and Loans
What is interest rate?
A percent that is added to your income
a percent that is paid on money in a bank account or money owed.
a percent that is taken out of your income
Commercial Banks offer which of the following services?
Savings Accounts
Loans
Checking Accounts
John wants to buy a $5,000 car. He plans to buy it in 3 years. How much should he save each month to pay for the car?
$1,666.67
$138.89
$208.33
Which type of bank is FOR PROFIT and run by its shareholders?
Credit unions
Commercial Banks
Which type of bank is NON PROFIT and run by its members?
Commercial banks
Credit Unions
Sarah earns $600 a month. She spends 15% on rent. She puts 20% into her savings account. How much money does she have left each month?
$90
$290
$390
