WorksheetsFinancial Literacy Banzai
Total questions: 20
Worksheet time: 10mins
The ___ rule states that your after-tax income should be divided this way:
50% -- needs
30% -- wants
20% -- savings
50/30/20
40/90/70
45/75
23/65/17
One of the great secrets to saving is finding ways to make it...
Hurt
Automatic
Difficult
Easy
___ is a type of savings account for retirement.
G-6
709 (R)
401(k)
505(H)
Three components of auto insurance: Property damage, comprehensive, personal injury or personal liability, uninsured/underinsured, and ___.
insurance
mobile
auto
collision
A ___ is the amount of money you have to pay before insurance kicks in.
adjustable
deductible
financial
agreeable
A lower deductible usually means a higher ___.
policy
account
label
premium
___ are things you can’t do without.
Needs
wants
savings
___ are things that are nice to have but not necessary.
Needs
Wants
Savings
___ is money you put away for a big purchase or emergency.
Needs
Wants
Savings
Five examples of wants:
eating out, coffee, Netflix subscription, designer clothes, Xbox
groceries, rent/mortgage, utilities, medical costs, insurance
emergency fund, retirement, 401(k), vacation, down payment on car
Five examples of needs:
eating out, coffee, Netflix subscription, designer clothes, Xbox
groceries, rent/mortgage, utilities, medical costs, insurance
emergency fund, retirement, 401(k), vacation, down payment on car
Five examples of savings:
eating out, coffee, Netflix subscription, designer clothes, Xbox
groceries, rent/mortgage, utilities, medical costs, insurance
emergency fund, retirement, 401(k), vacation, down payment on car
What are typical fees associated with checking accounts?
A monthly fee and fee for each check or ATM withdrawal
Library fees
A fee for each time you use your debit card
Lunch fees
What do you need to open a checking account?
Social security card
Government issued ID
Proof of address
Money to deposit
All of these
No matter what path you take in life, you’re going to need a place to ___.
shop til you drop
play video games
live
watch TV
Before you start looking at places to ___, it helps to get a sense of how much you'll need to pay.
rent
eat out
shop
If you don’t pay your bill in full, the ___ rates will apply to your remaining balance. This increases how much you will pay toward your balance.
guest
Mt. Everest
interest
An ___ fee is the flat rate you pay per year to use a credit card.
bi-annual
annual
weekly
daily
The amount you must pay by the due date is the ___ payment.
menu
minute
maximum
minimum
The cost of using a credit card, expressed as a yearly rate is annual percentage rate or ___.
MIT
APR
TPG
504
