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Worksheets29W Exam 2
Total questions: 10
Worksheet time: 5mins
Lonnie uses a card to pay for groceries. He borrows money from a lending institution every time he uses the card. What type of card is Lonnie using?
Savings
Debit
Credit
Gift
All are reasons why it is important to set goals EXCEPT...
they motivate us
they keep you from being focused
they give your life direction
they help you see progress
Why is creating a budget beneficial?
Budgeting is a one-time event that automatically saves you money.
Budgeting guarantees you can cover all of your wants and needs.
Budgeting allows you to reduce your income taxes and earn more money.
Budgeting allows for planning and responsible spending of your money.
If Leslie wants to have a bike for a social event next week, what is her best plan of action?
Use her savings to buy a brand-new bike.
Borrow a bike from a friend and return it as soon as possible.
Use a credit card to buy the bike and pay it off in four months.
Do not attend the event, and work instead of going.
What does the T in SMART stand for?
Time-bound - the goal must be reached within a specific length of time.
Transferable - a goal should be able to be shared with other people.
Thoughtful - a goal must take into account the feelings of others.
Trust-worthy - a goal should be worthy.
Which of the following time frames described would fit the definition of a short-term goal?
next week
2 days
a month
All of the above
Which of the following best describes the difference between a bill and a credit card statement?
A bill is money that you are given from a company; a credit card statement is a snapshot of your current savings.
A bill is sent only when you owe money to a company; a credit card statement is sent each month to show your balance owed, interest assessed, and any rewards earned.
A bill is money that you give a company for their services; a credit card statement has to be paid every month, even when it was not used.
Both require that you spend more than you have
What does the M in SMART stand for?
Maximum - there are no limits for goals
Measurable - a goal must have some kind of number attached so you have a way to know if you are reaching the goal.
Memorable - a goal must be easily remembered
Momentum - staying in line with your buddies and friends
Which of the following is NOT a positive aspect of a credit card?
Helps build credit history
Offers rewards for use
Allows for purchases without cash on hand
Access cash at an ATM
What part of SMART is missing from this goal? I will improve my grade in science soon.
Not time-bound
Not specific enough
Not attainable
Not measurable
