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WorksheetsPersonal Finance Review (preferred)
Total questions: 20
Worksheet time: 39mins
What is a budget?
a group that helps the community
a safe place where people keep money
a center where you can donate things
a plan for spending and saving money
Which is good advice for saving and spending money?
Spend all of your allowance as soon as you earn it.
Use a budget to plan how much money you can save.
Try to buy things that you want before the things that you need.
Buy things you use only once, and then throw them out.
Which type of card is a loan in which the lender will charge you interest if you do not pay off the balance each month?
Credit Card
Debit Card
Prepaid Card
The money you have left after you've paid your income tax is called....
disposable income
discretionary income
mutual funds
portable income
What is income?
The amount you spend
The amount you don't save
Money you earn from a job
What is a variable expense?
The amount of money you spend
The amount of money you save
An expense that costs different amounts every month
The variable in math
What is investment?
money spent on something with the goal of making more money
money spent on other things
money spent on saved products
Which of the following scenarios demonstrates a good budgeting practice?
Julie’s monthly income is less than her monthly expenses.
Carly’s monthly taxes are equal to her monthly expenses.
Rico spends less money each month than he earns at his job.
Sam spends more money each month than he earns at his job.
Which element of a personal budget is the money that a person earns or receives?
income
savings
expenses
investments
Which part of a personal budget records the amount of money a person spends?
salary
income
expenses
interest earned
jar. What do you do?
using the credit card.
expenses jar.
clothes jar to buy more clothes another day.
month.
Day.
You walk outside only to find that your car has been towed because you were parked illegally. You paid the towing company with a check and took this unexpected expense from which jar?
Housing
Utilities
Savings
Car
Use the information to answer the question.
“I want to open my own restaurant. I will need to take out a loan from my bank.”
-Jayla Smith, Entrepreneur
Which of the following BEST explains what should Jayla expect by taking a loan from her bank?
to have to pay her employees their monthly salaries
to repay the bank based on the amount of the loan plus interest
to receive money from her employees to help her repay the loan
to be so successful that she will be able to repay the loan in full right away
Use the information to answer the question.
?
__________________________
Your money will be safe.
Your money can earn interest.
You are less likely to spend your money.
Which of the following is the BEST title for the list?
Benefits of bank loans
Benefits of a debit card
Benefits of savings accounts
Benefits of checking accounts
Which of the following scenarios demonstrates a good budgeting practice?
Julie’s monthly income is less than her monthly expenses.
Carly’s monthly taxes are equal to her monthly expenses.
Rico spends less money each month than he earns at his job.
Sam spends more money each month than he earns at his job.
What is an emergency fund?
A savings account set aside for unexpected situations.
A way to invest for retirement.
Something most people don't need, because emergencies are rare.
An investment account that can grow over time.
Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?
credit card
debit card
rewards card
gift card
Jen wishes to take a vacation in a few months that costs more than her monthly paycheck will allow. What would be the safest way to get the money for the trip?
charge the trip on her credit card and pay it back of the next several years
invest a large amount of money in the stock market
immediately start putting a portion of the money in an interest earning savings account
use all of the money in her savings account
