WorksheetsPersonal Finance Quiz
Total questions: 22
Worksheet time: 36mins
Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal?
True
False
You should always make sure you have a (a) .
To gain an understanding of your personal finances, you should know ____________.
What is The First Foundation?
Being a spender has many more positives than being a saver.
True
False
Personal finance is all the financial decisions a(n) ________________ must make in order to earn, budget, save, spend, and give money over time.
Avoiding debt can lead to financial freedom and hope.
True
False
To know your net worth, subtract your liabilities from your ________.
Other liabilities
Net income
Previous
Assets
What is financial literacy?
The content provided in bank statements for consumers
The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
The curriculum provided to college students about finances for their degrees
The skills to read financial documents for personal finance classes, goals, and statements
Savers have a tendency to be . . .
Strict with their purchases but spend money without a plan
Strict with only purchases for themselves
Strict with what they spend their money on, other than groceries
Strict with their money and not spend any of it
What is the best way to avoid running out of money too quickly?
You can make it a habit to plan and set goals for your money.
You can avoid making any purchases for the next 30 days.
You can put your money in a safe place, like a bank, and not spend it.
You can invest in college.
It is possible to pay for college with cash.
True
False
An important money principle to consider is that you should ________ and ________ your money.
Save; invest
Invest; lay out
Spend; invest
Invest; endow
If your assets total more than your liabilities, you will have a(n) __________ net worth.
Positive
Balanced
Negative
Equal
Your money personality impacts:
Your understanding of bank transactions
How you handle money
Your financial literacy level
What you plan for as an adult
Personal finance is 20% __________ and 80% __________.
Why is Personal Finance dependent on your behavior?
What is the formula you need to use to find your Net Worth?
Explain the difference between short term, medium term and long term goals. Give an example of each goal.
Why should you be aware of whether you are a spender or a saver?
What does the common phrase "living paycheck to paycheck" mean? Explain why this is a problem.
Identify the Five Foundations and describe each of them. Then, evaluate how they will help you manage your money until graduation and beyond. (It is okay to use your own voice with the capital I to refer to yourself)
