WorksheetsMoney Personality and Saving
Total questions: 19
Worksheet time: 1hrs 3mins
Match the money personality on the left with its correct definition on the right.
A person who saves every penny and doesn’t like spending any money.
A Miser
A person who cares about others that have less than them and feels guilty having more money.
A Thinker
A person who puts off making financial decisions.
An Avoider
A person that likes to see their money make them more money.
A Collector
A person that enjoys spending and thinks little on how to pay for their purchases.
A Spender
Choose the letter to the sentence that best corresponds to the best definition to the word
Income:
A. Items that are specifically budgeted.
B. A strictly scheduled labor contract.
C. A manufacturer’s surplus of defective products.
D. Money received for labor or products.
Choose the letter to the sentence that best corresponds to the best definition to the word Tradeoffs:
A. A sport tournament where the winning team advances.
B. Money spent on one thing, cannot be saved or spent on something else.
C. An impromptu dance contest where the winner is determined by the audience.
D. A polite way to ask a person to leave you alone, or to stop bothering you.
Choose the letter to the sentence that best corresponds to the best definition to the word Expenses:
A. A form of accounting used by non-profit organizations.
B. The cost required for something, money spent on something.
C. A method of organizing products in a catalog.
D. The contract agreed on by a distributor and manufacturer.
Choose the letter to the sentence that best corresponds to the best definition to the word Delayed Gratification:
A. The name of a very popular rock and roll band.
A. The act of reviewing multiple banks to determine the best one.
A. The process of contacting many vendors to find “the right product”.
A. The ability to resist an immediate temptation to get a reward later.
Which of these is NOT a factor that can influence your financial decision making?
Family members
Influencers/ social media
The color of your clothes
The economy
Personal values/ emotions
One reason people should save money is to create an "emergency fund." Which of these is an example of an unexpected expense you might use an emergency fund to pay for?
6 months of cable TV.
A new cell phone if yours is stolen on the bus.
Valentine's Day gifts for friends and family.
Your back-to-school clothes and supplies.
What does it mean to “pay yourself first”?
On payday, take some money out to reward yourself with some fun spending.
Save money when you are young so you can spend more money when you are older.
Any time you get paid, set aside some portion to save before you do any spending.
Spend money on yourself first, then your immediate family, then friends or other relatives.
TJ is in 7th grade right now and cuts grass for neighbors to earn money. He wants to set one short-term savings goal and one long-term savings goal. Which answer best matches those goals?
Short-term = a pack of gum // long-term = 3 packs of gum
Short-term = a car // long-term = a nicer car
Short-term = expensive new sneakers // long-term = a car
Short-term = birthday present for his mom // long-term = a trip to the movies
Ro's school offers an overnight trip to Washington DC for all 9th grade US history students. Even though the trip is 20 months in the future, she knows she wants to attend and that she should start saving now. If the trip costs $500 total, how much does she need to save per month to have enough?
$20 per month
$25 per month
$480 per month
$10,000 per month
Diamond makes $200 per month by babysitting her neighbor's son after school. She wants to buy her dad something really special for Father's Day next year, and the holiday is 10 months away. Which strategy will work best to make sure she has enough saved by then?
Figure out how much she'd like to spend, and then divide the cost by 10 so she knows how much to save each month
Save all $200 every month until Father's Day without spending anything on herself
Don't worry about saving until closer to Father's Day -- she'll figure something out
Spend her money freely, but any time she has spare cash at the end of a month, put it in savings
Select all that apply; choose the best choices as answers to the following question.
1. What are the top reasons why you should save your money; choose the three (3) that apply?
Save only when you are really old.
Save for big purchases.
Save and then spend it all right away.
Save for your college education.
Save for emergencies.
Select all that apply; choose the best choices as answers to the following question.
2. What are some assumptions that we make about more costly products; choose the three (3) that apply?
The product/service is higher quality than something similar.
The product/service is poorly manufactured, with defects.
The product/service is associated with a trusted brand.
The product/service is very badly reviewed.
The product/service is more rare or difficult to obtain or make.
Justine is in 10th grade and gets an allowance of $25 every week from her parents. She has saved up $200 so far in a savings account. She wants to buy some new clothes since her current wardrobe is getting worn out. She sets a budget of $350 for herself. How much more money does Justine need before she can go shopping?
$100
$150
$200
$250
Justine is in 10th grade and gets an allowance of $25 every week from her parents. She has saved up $200 so far in a savings account. She wants to buy some new clothes since her current wardrobe is getting worn out. She sets a budget of $350 for herself. How many weeks will it take Justine to save this much money? How many months will it take Justine to save this much money?
6 weeks, 1.5 months
5 weeks, 1.25 months
4 weeks, 1 month
7 weeks, 1.75 months
Why is it important to consult reviews before making a big purchase decision?
To understand the product features and benefits
To find the best price available
To ensure the product meets your needs
All of the above
If you spend more money than you make, you will you have a ___________ cash flow?
Neutral
Explain why you chose the answer that you did in question 17.
What is something new that you learned about yourself or about one of your savings goals in this unit, as you thought about your future in more detail?
