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WorksheetsCareers Financial Decision Making
Total questions: 15
Worksheet time: 8mins
Naomi has decided on several financial goals. What step would be LEAST likely to help her reach her priority goal?
Carefully consider each choice and option
Do what feel right today
List the benefits and obstacles of each goal
Identify the goal she most wants to do
You have decided on a few goals and are having trouble prioritizing your priority goal. Which step of the decision-making process is MOST likely to help you choose your priority goal or goals?
Carefully consider each choice and option.
List the benefits and obstacles of each goal.
Identify the goal you most wan to do.
Evaluate your decision and change it if you think there is a better choice.
A friend of yours has made some poor choices with spending, including overspending on a credit card. What would be the BEST advice to offer your friend?
Make a goal to reduce debt now.
Choose only one item to spend money on
Don't worry about it and take your time to pay it off.
List the long-term benefits and obstacles of being in debt.
Which decisions can negatively impact a financial goal?
impulse decisions
critical-thinking decisions
problem-solving decisions
informed decisions
Spending money on items that are seen as trendy or expensive can project a certain image but ______________.
can lead to unwanted debt.
can break your budget.
is always a bad idea.
can make people jealous.
The root cause for a student spending more than she has is that she ____________________.
occasionally makes impulse buys.
purchases things online.
does not keep track of her spending.
has no emergency fund.
What is NOT an effect of long-term spending?
Expenses exceed income.
Use of debt and credit increases.
Credit counseling becomes necessary.
Impulse buying occurs on a regular basis.
What is the NMI used for?
NMI is the amount of your variable expenses
It is the amount of income used to determine your monthly spending budget.
It determines your fixed expenses.
NMI is your discretionary allowance.
What is the amount of income remaining after all bills and obligations are paid that can be used to purchase goods and services?
luxury spending
overconsumption
variable expenses
discretionary income
How many steps are there in the (Financial Decision-Making Process)
3
5
4
6
Financial goals that you plan to accomplish within a year should be categorized as ______goals.
immediate
savings
long-term
short-term
Of the following, it is most important for your financial goals to be __________.
long-term
varied
achievable
demanding
Starbucks large coffee costs $_________.
$2.75
$6.25
$4.25
$3.50
What is an emergency fund?
an investment
to pay for your school supplies.
a financial safety net for future mishaps and/or unexpected expenses
when you want to buy an expensive gift
Which of the following are TRUE about gross income and net income?
Gross income and net income are the same.
Net income is sometimes called "take home pay and Gross income is the total amount earned before deductions.
Net income is the total amount earned before deductions.
Neither is on your check.
