WorksheetsPersonal Finance Knowledge Assessment
Total questions: 23
Worksheet time: 27mins
Having a(n) (a) means the amount of your liabilities is larger than the value of your assets.
(a) means having the knowledge and skills to manage your personal finances.
As a(n) (a) , it's up to you to make choices about what you buy and use.
(a) is a fee charged for using borrowed money for a purchase.
American culture and businesses have convinced consumers that using (a) is normal.
(a) relates to all of the different money decisions you make each day.
Knowing your (a) is the starting point for a financial plan.
A(n) (a) is anything you own that has value.
When talking about personal finances, always remember that you will either manage your money or the lack of it will
(a)
In order to get clarity on your money goals and have a powerful reminder to keep you on track, you need to
(a)
The percentage of Americans who are living paycheck to paycheck is almost:
60%
70%
80%
90%
Personal finance is 20% head knowledge about money. What‘s the other 80%?
Cash in the bank
Behavior
Experience
Relationships
Living on less than you make means not:
Buying a car at 16 years old
Going to college after high school
Budgeting to eat out with friends
Spending all of your money
The total student loan debt owed in the U.S. is currently about how much?
$1.5 million
$1.5 billion
$1.5 trillion
$1.5 quadrillion
Almost half of all Americans report having less than _________ in savings.
$500
$1,000
$5,000
$10,000
The Five Foundations provide a simple ____________ to help you win with money.
Action plan
Guide for investing
Suggestion
Educational course
Reorder the following Five Foundations in order.
Save a $500 emergency fund.
Get out and stay out of debt.
Pay cash for your car.
Pay cash for college.
Build wealth and give.
When you narrow it down to people who actually have credit cards, the average amount of debt rolls up to over $14,900 per family.
True
False
Over half of teens and young adults associate money with stress and worry.
True
False
If the value of your assets is greater than your liabilities, then you have a negative net worth.
True
False
To help you manage your money, you should not have an accountability relationship with someone you trust and can talk to about major purchases and your budget.
True
False
Chole is saving to buy a new CD player that cost $59.95.
How many months will it take her to have enough money to buy the CD player for $59.95 if her income and expenses remain the same?
2 months
3 months
5 months
7 months
If Jeremy spent $8.75 instead of $6.50 on snacks, how much could he save that week and still balance his budget?
$9.50
$14.00
$8.50
$9.75
