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WorksheetsFinances Test - Modified
Total questions: 20
Worksheet time: 40mins
It is important to create a __________ for your expenses.
Loan
Savings Account
Budget
What is a popular budget to use?
50/30/20 Budget
Smith's Budget
The CEO's Budget
In the 50/30/20 Budget, What does the 50 represent?
Needs
Wants
Savings
In the 50/30/20 Budget, what does the 30 represent?
Savings
Wants
Needs
In the 50/30/20 Budget, what does the 20 represent?
Needs
Wants
Savings
Your phone is working well. The new iPhone just came out. Which part of your budget would the phone come out of?
Needs
Wants
You just got a job at Target! You don't have any plain red shirts or khakis at home. What part of your budget would your uniform come out of?
Needs
Wants
One of the tires on your car goes flat. There isn't a bus route that gets you from home to work. You have enough money in emergency savings to fix the tire. What should you do?
Get a loan from your bank to fix the car
Use your emergency fund to fix the tire
Wait until the next paycheck to fix the car
This year you want to plan ahead for Christmas. Christmas is in 5 months. You decide to put 10 dollars aside each month for gifts. Which account should you put the money in?
Checking
Savings
Your financial helper thinks you should start building credit so you can get a place to live on your own. What would you use to build credit?
Hammer and nails
Credit Card
Adopt a pet
The money from a Credit Card
Comes out of your checking account
Is loaned to you from the bank
It appears from nowhere
When using a credit card, you should only spend
Small amounts you can pay off quickly
Large amounts you can't pay off
Large amounts you pay off slowly
What does a credit score help with?
Loans and Housing
Groceries and Utilities
Saving and Checking Accounts
According to the picture, 715 is a...
Bad Credit Score
Fair Credit Score
Good Credit Score
Excellent Credit Score
According to the picture, 475 is a...
Bad Credit Score
Fair Credit Score
Good Credit Score
Excellent Credit Score
According to the picture, 650 is a...
Bad Credit Score
Fair Credit Score
Good Credit Score
Excellent Credit Score
According to the picture, 825 is an...
Bad Credit Score
Fair Credit Score
Good Credit Score
Excellent Credit Score
You just got paid so it's time to go get groceries. What do you use to pay for it?
Your debit card that takes money out of your Checking Account
A Check that takes money out of your Savings Account
Your Credit Card that loans you money from the bank
You want to get a car so you can drive to school and work. What plan is the best option?
Just get a loan to cover the cost of the car
Start saving to have a down payment on the car
Ask your friends and family to give you money so you can get the car with their money
Credit Cards are for
Earning Rewards and Building Credit
Buying things that you can't afford
Giving to random strangers so they can get food
