WorksheetsCh 2.2 Classwork
Total questions: 9
Worksheet time: 5mins
Which of the following is an accurate financial statistic about millennials?
Less than half of millennials spend money on clothing they don't necessarily need.
The majority of millennials spend money on taxis and Ubers.
About 30% of millennials spend money on eating at trendy restaurants.
About half of millennials spend money on the latest electronic gadget.
The purpose of a budget is to plan your spending and saving, considering your income level, so that you can meet your ________.
needs and wants
immediate needs only
intermediate-term financial goals
long-term dreams only
Which of the following is NOT a step in creating a budget?
considering the effect of taxes
prioritizing your financial goals
identifying your expenses
determining your net worth
Which of the following questions would you answer while establishing your net worth in the budgeting process?
How much income can I expect each month?
How much money do I usually spend in a month?
How much money do I have in the bank now?
How can I decrease the amount of income tax I owe?
You can increase your net worth by increasing your ________ and/or decreasing your ________.
assets; liabilities
liabilities; equities
assets; equities
equities; assets
Which of the following is not a source of income?
Allowance
Car payments
Wages
Salary
The most common investments include __________.
rare automobiles
oil paintings
stocks and bonds
stamp collections
Good record keeping is important for __________.
calculating net worth
estate planning
tax purposes
young children
In general, the higher the risk of a particular investment the higher the potential __________.
record keeping
return
debt
liquidity
