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15
×
Which budgeting approach is most likely to help someone who tends to overspend on impulse purchases?
Tracking expenses after each purchase
Reviewing expenses at the end of each month
Using only cash for non-essential spending
Automating all bill payments
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boom
Lose 50 points!
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rocket
Go to first place!
Okay!
×
rocket
Go to first place!
Okay!
×
lifesaver
Give 15 points!
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15
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How does the 50/30/20 rule of thumb for budgeting allocate your income?
50% Needs, 30% Wants, 20% Savings & Debt Repayment
50% Needs, 30% Savings & Debt Repayment, 20% Wants
50% Savings & Debt Repayment, 30% Wants, 20% Needs
50% Wants, 30% Needs, 20% Savings & Debt Repayment
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15
×
What is a "fixed expense" in a budget?
An expense that changes each month
An expense you can easily eliminate
An expense that stays the same each month
An expense that only occurs once a year
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15
×
Which of the following might you pay WHEN you sign your lease?
Application fee
Finder's fee
Renter's insurance
Security deposit
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15
×
How do wages and salary differ?
Wages mean you have a standard amount in each paycheck
Salaried employees are likely to be paid for overtime
Salary describes what you earn on an annual basis
Wages describe what you earn on an annual basis
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15
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How can consolidating your student loans help your budget?
You'll be more likely to be eligible for loan forgiveness
You'll pay more in interest over time
Your monthly payment may decrease
Your interest rate is guaranteed to decrease
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thief
Give points!
5
10
15
20
25
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star
Double points!
Okay!
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fairy
Take points!
5
10
15
20
25
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baam
Lose 15 points!
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heart
Other team wins 25 points!
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fairy
Take points!
5
10
15
20
25
×
gift
Win 20 points!
Okay!
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thief
Give points!
5
10
15
20
25
15
×
Which of the following may NOT always appear on your paycheck stub?
Net Pay
Gross Pay
Your Role/Title
Local Tax
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15
×
About how much of your income should go towards transportation?
25-30%
5-10%
15-20%
35-40%
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15
×
Which of the following is an example of buying something you NEED?
"I don't want to miss out on these deals during the sale!"
"I want to impress someone/ change how they feel about me."
"I'm feeling down, and I need to boost my spirits."
"I want to replace something that is no longer working."
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15
×
Which step can help mitigate the risk of buying a used car?
Get a Vehicle History Report
Buy a more expensive vehicle to ensure quality
Skip the test drive; you have time after buying to drive it
Have a mechanic inspect the car after you buy it
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15
×
Which of the following reasons would explain why Justin has decided not to own a car?
Driving would reduce the time it takes to get to work by 30 minutes
He doesn't have access to public transportation
The walking score in his city is high
There are numerous car dealerships in his area
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15
×
A 18oz box of cereal costs $4.99. How would you calculate the unit price?
18oz / $4.99
18 oz + $4.99
(18oz) x ($4.99)
$4.99 / 18oz
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15
×
What is a deductible?
The discount you get on your health insurance every year
The amount your insurance pays before you pay
The cost you and your insurance share
The amount you pay before your insurance begins to pay
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