WorksheetsPRINCIPLES OF FINANCIAL PLANNING
Total questions: 10
Worksheet time: 5mins
Which of these outcomes become more likely for someone with strong personal finance skills? Check all that apply.
A person can avoid opportunity cost.
A person can be more prepared to meet basic needs.
A person can avoid financial decision-making
A person can spend money thoughtfully to accumulate assets.
A person can spend wisely to avoid financial problems.
Paying rent is a......
return
need
want
risk
buying a new video game is a.....
return
need
want
risk
If you buy a new video game, you cannot pay your cell phone bill. This is an example of.......
setting a short-term goal
setting a long-term goal
realizing opportunity cost
If Mason wants to consider his short-term and long-term goals, which questions should he ask? Check all that apply.
Will other kids think my new bike is cool?
Do I want the bike this month, or should I wait and buy it during the summer?
Will buying the bike keep me from reaching another goal, like buying a car?
Do I really need the bike, or can I get by with my old one for a while longer?
How many of my friends have new bikes?
Match definition to correct term:
Money earned
income
opportunity cost
risk
personal finance
budget
Match definition to correct term:
the cost of using one resource over the other
income
opportunity cost
risk
personal finance
budget
Match definition to correct term:
the chance or possibility of loss
income
opportunity cost
risk
personal finance
budget
Match definition to correct term:
an individual's assets and mangement of them
income
opportunity cost
risk
personal finance
budget
Match definition to correct term:
a plan that balances available resources and expenses
income
opportunity cost
risk
personal finance
budget
