Font size
WorksheetsPersonal Finance
Total questions: 25
Worksheet time: 13mins
The process of defining goals, developing a plan to achieve them, and putting the plan into action is
Delayed Gratification
Saving and investing
Financial Planning
Goal Setting
A belief or idea you consider important or desirable
Goal
Want
Need
Value
A measure of one’s money that is received and spent is
Cash Flow
Financial Planning
Budget
Income
A goal is best described as
something basic for your survival
something you desire to make your life more comfortable
a statement of something one wants to achieve
a belief or idea you consider important or desirable
Delayed gratification means
a belief or idea you consider important or desirable
the value of the next best alternative
pay yourself first
a willingness to give up something now in exchange for a future benefit
Goals that are to be achieved in less than a year are
short term
long term
intermediate term
personal
The S in SMART goals stands for
Scheduled
Supportive
Specific
Sensible
The M in SMART goals stands for
moral
measurable
meaningful
manageable
Saving for early retirement is likely what type of goal?
short term
long term
intermediate
delayed
Experts say you should try to save at least what percentage of your income?
5%
10%
15%
20%
What are liabilities?
moveable things you own
debts you owe
land, houses, buildings
stocks, bonds, and retirement
What is real property?
moveable things you own
debts you owe
land, houses, buildings
stocks, bonds, and retirement
What are securities?
moveable things you own
debts you owe
land, houses, buildings
stocks, bonds, and mutual funds
What does it mean to call cash "liquid"?
money that is owed.
money that can be obtained by selling property.
Cash that you can get your hands on now.
You have extra cash left after selling all property and paying all debts.
_____value is the value today of an amount to be received in the future.
extrinisic
future
discounting
present
The process used to find the value today of an amount to be received in the future.
extrinisic
future
discounting
present
Besides the tally system, what is another method to track cash flow and spending?
Calendar system
Envelope System
Balance Sheet
Monthly Budget
Bill makes $ 600 a week. If he wanted to save 25% of that, how would he do it?
divide 25 by 600 and multiply by 100
Multiply 600 times .25
Subtract 25 from 600.
Subtract 25% from 100% and then multiply by 600.
Bill makes $ 600 a week. He wants to save $150 of that each week. How would he figure out what percentage is being saved?
divide 150 by 600 and multiply by 100
Multiply 600 times .150
Subtract 150 from 600.
Subtract 150 from 600 and then divide by 4.
Barbara bought 100 shares of Target when the price was $55 per share. How would she figure up how much this will cost her?
100 x 55
100/55
100 + 55
100-55
Jim bought 200 shares of Wal-mart two years ago for $10,000. The value of the stock today is $12,000. How would you figure his profit?
10,000/12,000 x 100
10,000 + 12,000
12,000-10,000
10,000 x 12,000
You couldn't decide between pizza or meatloaf. You went with the pizza. The meatloaf is your
trade off
opportunity cost
delayed gratification
intermediate term goal
Expenses that don't change month after month
Fixed
Variable
Occasional
Liabilities
How do you figure your net worth?
assets-liabilities
assets + liabilities
assets + liquid cash + securities
liquid cash-liabilites
Solvent means
(choose all that apply)
you have cash surpluses
you have cash shortages
Assets exceed liabilities
Liabilities exceed assets
