WorksheetsPersonal Finance Ch. 1
Total questions: 20
Worksheet time: 11mins
Expensive houses and new cars are a true indication of wealth.
True
False
A person or organization that uses a product or service.
borrower
debtor
consumer
creditor
An obligation of repayment owed by one party to a second party.
debt
ownership
rental
credit
A fee paid by a borrower to the lender for the use of borrowed money.
bills
debts
interest
principal
Which of the following things cannot be done with a debit card but can be done with a credit card?
Go in to debt
Rent a car
Purchase something online
Purchase an airline ticket
What is a liability?
Money you owe; a debt
Something that loses value over time
Money in your savings account
Something you own and has value
The measurement of a person's total dollar value of assets minus any liabilities they have is called their ___________
Liabilities
Insurance
Wealth
Net Worth
A spending plan is called ______________
Scarcity
Debt
an account
a budget
The condition of having unlimited wants but limited resources is called
economy
scarcity
global demand
selfishness
All financial decisions an individual or family must make in order to earn, budget, save, and spend money over time is known as
financial aid
cash flow
personal finance
investments
An investment is
money put into an account intended for growth
money spent
a savings account at the bank
interest paid on an item
The cost of goods and services:
an expense
a budget
net worth
scarcity
asset
Compound interest is
money put into an account for growth
anything owed
interest paid on the principal investment
interest paid on the investment PLUS any interest previously earned
(a) interest is the interest paid on the principal investment ONLY
True or False: a non-profit organization is a federally recognized, tax-exempt organization such as a church, hospital, charity or school that serves the public in some way
true
false
Interest is a (a) paid on top of what you already owe
1. Personal finance is about _______% behavior and _______% knowledge.
50, 50
30, 70
80, 20
25, 75
1. The First Foundation is:
Open a checking account
Build up a $500 savings
Pay cash for a car
Get out of all debt
Which of the following would be a good reason to use money out of your emergency fund?
I need new tired for my car after my tires blew
I need a beach vacation
I need some jeans because I have had mine since last Fall.
My nails are hideous and I need to get a manicure ASAP!
Which would be a tool you could use to help you balance your budget?
a spreadsheet
a banking app
a calculator
all of these
