WorksheetsChapter 3 Review (Saving Money)
Total questions: 9
Worksheet time: 9mins
Which of the following would be considered an emergency fund expense?
Lost cell phone.
Video game sale
Blown car tire
Shoe sale
"Rate of return" is a phrase used to describe what aspect of investing?
Compound growth
Risk and return ration
Accrued interest
Inflation
In The Five Foundation, what is The Third Foundation?
Pay cash for college.
Pay cash for your car.
Save a $500 emergency fund.
Get out and stay out of the debt.
When you make a purchase but later wish you hadn't done so, you experience:
selfishness
buyer's remorse
impulsiveness
time value
Which of the following questions helps you determine if something is actually an emergency expense?
Is it urgent?
Is it necessary?
Is it unexpected?
All of the above.
What two elements do you need to build wealth through compound growth?
An inheritance and a lawyer
Money invested and time
Money invested and good stocks
Time and a wealthy relative
Match the following
45% of Americans have less than $1000 saved for a(n)
emergency fund
The initial amount of money you deposit or invest is called the
principal
The ________ refers to the earning potential of money.
time value of money
_________ deals--such as 90 days-same-as-cash--are often used to get you to buy higher-priced items.
interest rate
______ ______ is the average rate of growth for an investment over a period of time.
Compound growth
Match the following
The price of goods and services increases over time due to
inflation
You save for a(n) ______ ______
when you don't have the cash to buy it now.
large purchase
An investment's _____ __ ______ is it's percentage of gain or loss over time.
rate of return
What are the three reasons to save money?
