WorksheetsChapter 1 Review
Total questions: 19
Worksheet time: 12mins
Refers to all the money decisions a person or family must make in order to earn, budget, save, and spend money.
Cash flow statement
financial aid
personal finance
scarcity
Personal finance is about _______% behavior and _______% knowledge.
80,20
60,40
20,80
70,30
A measurement of the total dollar value of a person’s or business’ assets minus liabilities is called:
wealth
net worth
earnings
income
A liability can be described as:
money you owe, a debt
something you own that has value
money that you have in a savings account
something that goes down in value over time
The First Foundation is:
get out a debt
pay cash for a car
build wealth and give
save a $500 emergency fund
Which of the following allows invested money to grow over time?
taxes
compound interest
simple interest
inflation
The condition of having unlimited wants but limited resources is known as:
scarcity
global demand
consumerism
budgeting
A plan for spending
budget
economy
checking account
scarcity
This is the second foundation
get out of debt
save $500 emergency fund
pay cash for college
pay cash for first car
This is the third foundation
pay cash for college
build wealth and give
save a $500 emergency fund
pay cash for your first car
This is the fourth foundation
pay cash for your first car
pay cash for college
build wealth and give
get out of debt
This is the fifth foundation
build wealth and give
get out of debt
save $500 emergency fund
pay cash for first car
Owing anything to anyone for any reason
credit
consumer
debt
expense
Change in dollar amount every month
discretionary expenses
intermittent expenses
fixed expenses
variable expenses
Remain the same from month to month
fixed expenses
discretionary expenses
variable expenses
intermittent expenses
For things you don't necessarily need
variable expenses
fixed expenses
intermittent expenses
discretionary expenses
Occur at different times throughout the year and tend to be large lump sums
variable expenses
fixed expenses
discretionary expenses
intermittent expenses
A measurement of the total dollar value of one's assets minus liabilities
net worth
budget
inflation
scarcity
Chad buys a car for 30,000. He has to take out a loan with a 5% interest rate for 1 year. How much with he pay in interest?
