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WorksheetsPersonal Finance 2
Total questions: 22
Worksheet time: 11mins
Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses
Dinning out at local restraints
Loan payment on a new car
Posting a purchase for a big-screen TV
Expenses for new clothes
if you are trying to substantially reduce the amount you spend on food, you should try...
Dining at restaurants more often so you don't waste water doing dishes
Eating more snacks on the go and way fewer meals at home
cooking your own food at home for as many meals as possible
Drinking more coffee and soda so you are not as hungry for food
You earn a salary of $40,000 per year and decide to save 20% of your gross pay. You set a goal of creating a $16,000 emergency fund. How long will it take for you to achieve your goal?
6 months
2 months
3 years
2 years
Lella just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now?
Average cost of Uber, Lyft, or taxi fare
Average rent for a apartment
Employment opportunities
Food and grocery store options in the area
Which of these boxes of cereal has the LOWEST unit price
Cereal A, which cost $3.20 for a 16 oz. box
Cereal B, which cost $5.00 for a 32 oz. box
Cereal C, which cost $2.50 for a 10 oz. box
Cereal D, which cost $4.50 for an 8 oz. box
Isaiah has a summer internship at a technology company and is paid $3,000. After Federal and state taxes, social security medication are deducted, his take-home pay is $2,500, Which of the statement below is correct
His gross pay is $2,500 and net pay is $3,000
His gross pay is $3,000 and net pay is $2,500
his gross and net pay are $3,000
his gross and net pay are $2,500
You are putting together your first post-graduation. Your net pay is $2,500 per month and you estimate that your monthly expenses will be $2,625. How would you describe your budget
You have a deficit of $125
You have a surplus of $125
You have a deficit of $2,625
You have a surplus of $2,500
All the following are good budgeting strategies if you want to save money at the grocery store EXCEPT:
focusing only on the price when comparing similar products
Preparing a grocery list before you go to the store and avoiding buying items that aren't on the list
Focusing on unit price when comparing similar products
Building a weekly meal plan around items you already own or items that are on sale that week, rather than just choosing foods you'd like to eat
which description is most accurate for a zero-based budget
you put every dollar of your net pay into a budget category each month
You spend your saving account balance down to $0 every month
You spend your checking account balance down to $0 every month
You pay every one of your debts down to $0 every month
Which statement accurately describes how the 50/20/30 Rule would break down your take-home pay?
50% on savings, 20% on needs, and 30% on wants
50% on saving, 20% on wants, and 30% on needs
50% on wants, 20% on savings, and 30% on needs
50% needs, 20% on savings, and 30% on wants
You are interested in renting an apartment after graduating college. You meet with the landlord and complete the application. All of the following may need to be provided when you sign your lease EXCEPT
A bank account
a security deposit
First and Last months rent
Proof of employment
you're considering moving into a 3 bedroom apartment with 2 roommates, rather than living on your own post-college. Which of your expensive would likely decrease by having roommates.
Cell phone bill
Rent
Groceries and eating out
Bedroom furniture
Which of these expenses most likely represents a VARIABLE cost in someone's budget
Student loan payment
car insurance premium
Electricity bill
Rent
What action corresponds to the advice "pay yourself first"
set aside a fraction of your paycheck into a savings account before you start spending
Spend your regular paycheck on needs and wants but funnel any extra money into savings
Wait until the end of the month to determine how much you have leftover to save
Become self-employed so you're instead of being paid by an employer
Which grocery item has the lowest unit price
20 oranges for $18
10 oranges for $10
12 oranges for $20
15 oranges for $12
All of the following are ways you can save money at the grocery store EXCEPT
avoid impulse purchases made at the register like magazines or candy
Pay someone to do your grocery shopping so you don't make unnecessarily purchases
make a list and only purchase items on it
Buying whole produce instead of pre-cut
Which of the following scenarios shows someone losing purchasing due to inflation
Artie gets a 3% raise and inflation increases prices by 2%
Chris gets a 5% raise and inflation increases prices by 3.5%
David gets a 2% raise and inflation increases price by 3%
Joanna gets a 3.5% raise and inflation increases by 4.5%
Which scenario below is an example of a person whose car payment is probably too high
Logan pays $250 per month for his car and saves $250 per month
Meredith pays $400 per month for her car and saves $350 per month
Laura pays $430 per month for her car and saves $500 per month
Chester pays $390 per month for his car and saves $500 per month
One way the grocery store tricks you into spending more money than you budgeted for is
Being open early in the morning and late at night
Putting high priced items at eye level and lower cost items above or below eye level
Accepting digital and print coupons
Paying their cashiers and beggars more
What is the purpose of an apartment lease
It provides the budget you'll use for all of your household expense
It outlines the amount of rent you'll pay, when it is due,and key obligations and rights of living in the property
it provides insurance if any guest to your apartment are injured on the property
It makes it illegal for your landlord to evict you from the property
Why is it important for gig workers to have a larger than usual emergency fund
Gig workers have a large than usual grocery budget due to working more
Gig work always is high risk, so you might need to pay unanticipated hospital bills
Gig work can be irregular so its important to have money saved for times of low employment
Gig workers are more likely to live in a place with higher rent
When your are a freelancer, who manages the time and location that work is done
you set your own hours and work location
The town that you work in has regulations about when and where you can work
The sizes of the contract you sign with the company that hires you determines the time and location
A manager at the company that you're contracted to sets your hours and work location
