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WorksheetsPF Chapter 1-4 & 7,8 Mid Term Review
Total questions: 34
Worksheet time: 17mins
How often should you create budget?
Biannually
Monthly
Weekly
Daily
How many months does it take a budget to start working?
5
2
3
4
Fixed or variable expense: Rent?
Fixed
Variable
Fixed or variable expense: Groceries
Fixed
Variable
The income that remains after taxes have been deducted is called
gross income
net income
What are the 2 money personality?
Saver & Spender
Spender & Giver
Saver & Giver
Giver & Payer
46 % Americans feel stress and anxiety about amounts of what?
categories in a budget
Money
Debit cards
Personal Debt
What are the 4 Walls?
(a)
What is the First Foundation?
Build Wealth and give
Open a checking account
Pay cash for college
$500 emergency fund
To know your networth, is to subtract your liabilities from your?
Net Income
Assets
Other Liabilites
Previous net worth
What is the Fifth Foundation?
Build Wealth & Give
Pay cash for car
Pay cash for college
Get out of debt and stay out
Which is NOT part of a budget?
Income
Giving
Credit Score
Saving
The first priority in your budget should be
Investing
Saving
Spending
Giving
The top three careers reported among millionaires were _____________, _____________, and ___________.
Pro athletes. bankers, CEO's
Teachers, Accountants, Engineers
Celebrities, developers, writers
Lawyer, Doctors, Accountants
Zero debt, your emergency fund should have what_?
3,000
5,000
3-6 months of income
3-6 months of living expenses
What are the main reasons to save your money?
College, car, house
Principle, compound growth, interest rate
Emergencies, large purchases, wealth building
Invest, credit, Loans
What is The Second Foundation?
Pay cash for college
Pay cash for car
Get out of debt and stay out
Build wealth and give
Which is NOT a hook for credit card companies to get you to get a Card?
MULTIPLE OPTIONS OF ACCOUNTS
OFFERING A LOW- OR ZERO-INTEREST INTRODUCTORY RATE
REQUIRING ONLY THE MINIMUM MONTHLY PAYMENT
OFFERING CASH BACK AND OTHER REWARDS
Which is a depreciating asset?
Stocks
Bonds
Home
New Car
Which is an example of an appreciating asset?
Computer
Farming equipment
Home
New car
The debt snowball method involves . . .
Waiting to winter months to pay off debt
Paying of debt from smallest to largest
Pooling money from other people to pay of debt
Pay off debt from largest to smallest
You can fund your education by finding the right mix of ___, ___, and ___.
cash, loans, grants
Grants, scholarships, work
Work, cash, loans
Trust fun, family money, federal aid
It takes the average person _________ to pay off their student loan debt.
20
10
5
13
Which is a 4 year degree?
Community college
Graduate degree
Associate degree
Bachelors degree
What is The Fourth Foundation?
Pay cash for college
Pay cash for car
Save $500
Build wealth and give
What is the Third foundation?
Pay cash for college
Pay cash for car
Save $500
Build wealth and give
What is the average student loan debt in America?
$50K
$20K
$35K
$10K
What is NOT the six steps to start college on the right path help you as you make decisions about college?
Take loans and prepare
Work, save, behave
Take debt of the table
Research and prep
FAFSA is the federal application required to . . .
Receive financial aid
Get a part time job
Get into college
Work study program
How many categories should you have in budget?
(a)
The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to ______ per account.
$250
$2,500
$25,000
$250,000
Liquidity is . . .
Find financial service that's right for you
How quickly and easily you can access your money
Money flows from bank to bank
When you deposit gold and silver
You need to track everything that involves money, including . . .
Clothing budget for a month
All the sales that are currently happening
Debit card purchases, third party app transactions, ATM withdrawals
Latest credit card offer
What is Coach Piper's favorite Holiday?
Halloween
Thanksgivings
Christmas
New Year's
