WorksheetsStaying Out of Debt
Total questions: 12
Worksheet time: 6mins
What is the standard budget plan?
50/30/20
60/30/10
50/40/10
buy what you want, you don't need to budget
Which of these is a bad financial choice?
not having savings
building credit
paying yourself first
having emergency funds
Which of these is not a budgeting technique?
zero-based budget
envelope budget
50/30/20 budget
income value budget
How many months of living expenses should an emergency fund have?
3-6 months
2-3 months
6-8 months
4-5 months
Which of these do lenders look at when someone is applying for a loan?
gpa
college classes
income
job title
Emily wants to buy a Nissan gtr. She wants to take out a $30,000 loan. Her monthly payment will be $3,014. The pink slip for the car is collateral. Is this a secure or unsecure loan?
secure
unsecure
Emily wants to buy a Nissan gtr. She wants to take out a $30,000 loan. Her monthly payment will be $3,014. The pink slip for the car is collateral. Is this a revolving or term loan?
revolving
term
What's the difference between private and federal student loans?
federal can only be used for tuition while private can be used for personal use
you can file bankruptcy to get out of private, but you are stuck with federal
federal student loans are funded by the government while private student loans are funded by organizations
private student loans are only available to graduate students while federal are available to undergrad and graduate students
Unsubsidized loans are only available for undergraduate students.
true
false
What does having a high credit card utilization ratio lead to?
i dunno
nothing, it doesn't effect anything
bad credit score
good credit score
which of these benefit your finances?
buying ps5 for market price
making food instead of eating out
not having saving money
investing all of your money into bitcoin
Which type of credit cards should you prioritize paying off?
rewards cards
high interest cards
cash back cards
high limit cards
