WorksheetsPersonal Finance Survey
Total questions: 28
Worksheet time: 23mins
Whose credit card do you use?
My own.
My parents’.
Both my own and my parents’.
None. I don’t use a credit card.
How do you use your debit (or ATM) card?
For getting cash from an ATM and for buying things directly.
For getting cash from an ATM only.
I don’t have a debit card.
Which of the following best describes your driving situation?
a. I don’t have a driver’s license.
b. I have a driver’s license, but no car in the family that I can drive regularly.
c. I drive the family car, which is used by other, and help pay for the insurance/gas.
d. I drive the family car, which is used by others, and don’t help pay for the insurance/gas.
e. I drive my own car and help pay for the insurance/gas.
f. I drive my own car and don’t help pay for the insurance/gas.
How would you describe your employment history?
a. I work full time in the summers and part time during the school year.
b. I work full time in the summers and don’t work during the school year.
c. I work part time in the summers and part time during the school year.
d. I work part time in the summers and don’t work during the school year.
e. I don’t work (but I work really hard at school/sports/music....)
What kind of bank account do you have?
I don’t have a bank account.
I have a savings account but no checking account.
I have a checking account but no savings account.
I have both a savings and a checking account.
I use my phone to do banking (deposit checks, transfer $, pay bills, check my balance, Apple Pay, etc.).
True
False
I have done person to person money transactions (like Venmo).
True
False
My parents/guardians have taught me about personal finance.
Yes. They have spent a lot of time explaining this topic.
Sort of. They have given me some guidance.
Not really, but I’ve learned a little from watching them.
No. This topic isn’t really discussed in my family.
I PRIMARILY get my money from:
Working (a job or doing chores).
An allowance.
Gifts (maybe grandma gives you $ for your birthday?)
I really don’t have any money.
I expect to make around the following salary by the time I’m 30:
$35,000
$65,000
$100,000
$100,000 +
In comparison to your parents/guardians, do you expect to be:
Better off financially?
The same.
Slightly worse off.
Probably a lot worse off.
If I tried, I could save:
$1 a day from now until Christmas break
$2 a day from now until Christmas break
$3 a day from now until Christmas break
I couldn’t save any money per day.
Assuming I saved between 100− 300 by Christmas break, I would most likely:
Spend it on something I’ve been wanting to own or something I’ve been wanting to do.
Save it all.
Spend it all on someone else.
Spend the majority and save the minority.
Save the majority and spend the minority.
14. Inflation can cause difficulty in many ways. Which group would have the greatest problem during periods of high inflation that last several years?
Older, working couples saving for retirement.
Older people living on
fixed retirement income.
Young couples with no
children who both work.
Young working couples with children.
Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income?
When you need to buy a car to get a much better paying job.
When you really need a week vacation.
When some clothes you like go on sale.
When interest rates go down.
Which of the following statements best describes your right to check your credit history for accuracy?
Your credit record can be checked once a year for free.
You cannot see your credit record.
All credit records are the property of the U.S. Government and access is only available to the FBI and Lenders.
You can only check your record for free if you are turned down for credit based on a credit report.
Many people put aside money to take care of unexpected expenses. If Juan and Ella have money put aside for emergencies, in which of the following forms would it be of LEAST benefit to them if they needed it right away?
Invested in a down payment on the house.
Checking account.
Stocks.
Savings account.
Sara and Josh had a baby and received money as baby gifts. They want to save it for the baby’s college. Which of the following tends to have the highest growth over periods as long as 18 years?
A checking account.
Stocks.
A US Government savings bond.
A savings account.
Robert just applied for a credit card. He’s 18 with few possessions and no credit history. If he is granted a credit card, which of the following is the most likely way that the credit card company will reduce ITS risk?
It will make his parents pledge their home to repay the credit card debt if necessary.
It will require him to have both parents co-sign for the card.
It will charge him twice the finance charge rate it charges older cardholders.
It will start him out with a small line of credit to see how he handles the account.
Which of the following best describes the primary sources of income for most people age 20-35?
Dividends and interest.
Salaries, wages, tips.
Profits from business.
Rents.
Which of the following statements is NOT correct about most ATM cards?
You can generally get cash 24 hours-a-day.
You can generally obtain information concerning your bank balance at an ATM machine.
You can get cash anywhere in the world with no fee.
You must have a bank account to have an ATM Card.
Which of the following credit card users is likely to pay the GREATEST dollar amount in finance charges per year, if they all charge the same amount per year on their cards?
Which of the following statements is true?
a. Banks and other lenders share credit history of their borrowers with each other and are likely to know of any loan payments that you have missed.
b. People have so many loans it is very unlikely that one bank will know your history with another bank.
c. You bad loan payment record with one bank will not be considered if you apply to another bank for a loan.
d. If you missed a payment more than 2 years ago, it cannot be considered in a loan decision.
How can you improve your credit score?
Pay all of your bills on time
Spend more money on each of your credit cards
Pay off and then close all of your credit cards
When merchants ask, “Credit or debit?” always choose credit
Anna receives her first paycheck and realizes that her take-home pay is substantially less than the salary she was promised in her offer letter. Which of the following would NOT help explain this problem?
Taxes, social security, and Medicaid are being deducted from her pay
She is making pre-tax contributions to a 401(k) investment
Her company is downsizing and has decided to pay her less without notice
She is contributing to her employer-sponsored health insurance plan
Which of the following will result in your paying the largest amount of interest to the credit card company?
Paying 20% of your credit card balance every month
Making the minimum payment every month
Paying off your balance every month
Saying “credit” every time the cashier asks “Debit or credit?”
Cleo gets a text message from her credit card company asking her to verify that she’s making a purchase at a high-end department store in NYC. Cleo is at work in Chicago and texts back a (2) for NO. What is a good next step for Cleo to take?
Cancel all of her credit cards to avoid being a victim of identity theft
No need to do anything else -- the problem’s taken care of
Check her online account and review all the purchases to make sure there aren’t other fraudulent charges
Switch to using her debit card from now on until the credit card problem resolves itself
You are budgeting your net pay of 2500permonth.Youestimateyourmonthlycoststoberentof 800, car expenses of 650,utilitiesof 200, insurance of 350,foodfor 200, and other expenses of $100. What is the end result?
A budget deficit of $200
A budget deficit of $4800
A budget surplus of $200
You can’t tell without knowing your gross pay
