WorksheetsFoundations in Personal Finance-Saving
Total questions: 20
Worksheet time: 40mins
The first step you should take when you want to make a large purchase is . . .
Ask your parents to loan you the money with low interest
Apply for a Credit Card
Decide how much you need to save and the time frame that you want to save it in
Sell something you have and use the proceeds
It's not IF and emergency will happen, but ______.
How
Where
Why
When
The initial amount of money that you invest is the ________.
Interest
Principal
Debt
Emergency Fund
47% of Americans have less than $1,000 saved for a(n) __________ .
Emergency
Car
New Smartphone
Retirement Fund
Interest paid on an investment and on any interest previously earned.
compound interest
simple interest
liability
asset
Money put into an account intended for growth.
assets
liabilities
simple interest
investments
All the money decisions a person or family makes including earning, budgeting, saving, spending, and planning for the future.
budget
expenses
personal finance
scarcity
A monthly plan for how you are going to save and spend your income.
expenses
credit
budget
liability
Personal finance is about ________% behavior and ________% head knowledge.
30, 70
20, 80
70, 30
80, 20
Which of the following statements best explains why income alone does not determine wealth?
Investing is the only factor that contributes to wealth building.
Income alone does determine a person's wealth.
Only people who are natural savers can become wealthy.
How much money a person makes does not dictate his or her spending and saving behavior.
Which of these would count as a legitimate reason to use your emergency fund?
To buy your best friend a birthday present
To buy a new outfit for a special occasion.
Your car battery died.
The newest smartphone was released.
___________ is the increase in the prices of goods and services over time.
Rate of Return
Interest
Debt
Inflation
How much money does one need to make a year to be considered a millionaire?
$100,000
$1,000,000
$10,000,000
A millionaire is not a level of income.
An expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings
What is Paycheck to Paycheck?
What is Living Hand to Feet?
What is Budget?
What is Debt to Income?
Not a clue
With the right _______, you really can make good choices with your money.
knowledge
behavior
money principles
all of these
44% of Americans report they have more than $1,000 in savings.
What is False?
What is True?
The dollar value of a person’s assets is greater than the dollar value of their liabilities
Positive Net Worth
Negative Net Worth
