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WorksheetsChapter 6 Personal Finance Quiz
Total questions: 31
Worksheet time: 21mins
How much money should you save up for an emergency fund? (Not in reading guide, but talked about in class)
3-4 months
6-12 months
2 months
At least a year.
Emergency funds are calculated based on
monthly expenses
monthly income
retirement planning
Investing for college
Current amount of debt
What is the purpose of the budget?
to map out the next year of spending
to keep track of your income and net worth
to create a cash flow statement
to take control of your money and spending
Which of these is not a feasible time period to determine your budget period?
biweekly
monthly
yearly
weekly
Which of these is not a type of discretionary spending?
cell phone bill
clothing
scarfing down 3 cheese conies at Skyline
Jewelry
spending $5.99 on Hay Day to buy 300 White Diamonds
You should review your total financial situation at least . . . . . . . .
weekly
biweekly
monthly
every 6 months
annually
Check all that are ASSETS
stocks
cash
real estate
mortgages
bonds
Check all that are Liabilities
Cash
mortgages
personal loans
personal possessions
credit card charges
How do you know if your net worth is a negative figure?
How do you arrive at your net worth?
Which state of your financial life is the following located in:
"empty nest"
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in:
happens in your 40's and 50's
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in:
Getting established in Life
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in:
Getting established in Life
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in:
family life revolves around the kids
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in:
formal retirement
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: births/adoptions is happening
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: income starts low but gradually increases
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: need extra income for college expenses
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: expenses include clothing, sports, and hobbies
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: child-related expenses
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which state of your financial life is the following located in: expenses include college loans, home furnishings, etc
Beginning Stage
Expanding Stage
Developing Stage
Launching Stage
Aging Stage
Which type of family would the following characteristic belong to: females lead many of these families
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
Which type of family would the following characteristic belong to: face legal fees
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
Which type of family would the following characteristic belong to: spend more on leisure, travel, and other extras
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
Which type of family would the following characteristic belong to: cost of maintaining two homes
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
Which type of family would the following characteristic belong to: greater responsibility to aging parents
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
Which type of family would the following characteristic belong to: saving and planning is difficult
Singles and Childless Couples
Single-Parent Families
Separated and Divorced People
When the economy is on the upswing, people are generally ________________
pessimistic
apathetic
worried
optimistic
Which of these would not be a challenging time to manage your finances?
when GDP per capita is very high with
inflation
recession
high unemployment
Which of these has altered the way people buy goods and services?
Cell Phones
The Internet
Medical advances
Social Media
