A) Cut all unnecessary spending. B) Track your income and expenses. C) Open a separate savings account. D) Invest in the stock market.
A) Rent B) Entertainment C) Gas D) Groceries
A) Loan Payment B) Mortgage C) Utilities D) Insurance
A) To track income, expenses, and financial goals. B) To become instantly rich. C) To impress your friends. D) To avoid paying taxes.
A) 50% needs, 30% wants, 20% savings/debt repayment. B) 50% debt, 30% income, 20% expenses. C) 50% savings, 30% needs, 20% wants. D) 50% investments, 30% bills, 20% fun.
A) Give all your money to charity. B) Borrow money to buy things you want. C) Spend all your money on yourself. D) Prioritize saving a portion of your income before spending.
A) Zero-Based Budgeting B) 50/30/20 Rule C) Envelope System D) Reverse Budgeting
A) Going on vacation. B) Investing in high-risk stocks. C) Buying luxury items. D) Unexpected expenses like car repairs or medical bills.
A) Using cash-filled envelopes for specific spending categories. B) Storing important documents in envelopes. C) Mailing bills in colorful envelopes. D) Sending money anonymously.
A) Quitting your job. B) Borrowing money from friends. C) Reducing unnecessary spending. D) Ignoring your bills.
A) Twitter B) Mint C) Facebook D) Instagram
A) To avoid paying taxes. B) To have a clear direction for your money. C) To impress your boss. D) To make your friends jealous.
A) Filing for bankruptcy. B) Accumulating more debt. C) Ignoring your debts. D) Paying off smallest debt first for motivation.
A) Paying off the debt with the highest interest rate first. B) Paying off the debt with the largest balance first. C) Paying off all your debts at once. D) Paying off the debt with the lowest interest rate first.
A) To make adjustments based on your changing needs. B) To impress your friends. C) To make sure you are spending enough money. D) To avoid thinking about your finances.
A) Annual Prime Rate B) Average Purchase Return C) Approved Payment Request D) Annual Percentage Rate
A) A type of savings account. B) Paying interest on your debt. C) Losing money on your investments. D) Earning interest on your initial investment and accumulated interest.
A) Avoiding investments altogether. B) Investing all your money in one stock. C) Betting on a single outcome. D) Spreading your investments across different assets.
A) A number that reflects your creditworthiness. B) Your bank account balance. C) The amount of money you have saved. D) Your annual income.
A) To get better interest rates on loans and credit cards. B) To get free money from the government. C) To impress your friends. D) To avoid paying taxes.
A) Saving money for a specific, larger purchase. B) A fund for burying your money. C) A government bailout program. D) A loan with extremely high interest rates.
A) They are the same B) Spending $100 on lottery tickets C) Saving $100 D) Impossible to say
A) Improving your credit score quickly. B) Avoiding the need to track spending. C) Accumulating debt and paying high interest. D) Earning valuable rewards points.
A) Take out a high-interest loan. B) Ignore the problem and hope it goes away. C) Identify and cut unnecessary spending. D) Blame someone else for your financial situation.
A) A sudden, unexpected expense. B) The value of the next best alternative foregone when making a decision. C) The cost of doing business. D) The cost of running a company.
A) Needs are expensive, wants are cheap. B) There is no real difference. C) Needs make you happy, wants make you sad. D) Needs are essential for survival, wants are not.
A) Designer clothes B) Food C) A new car D) A luxury vacation
A) You have more income than expenses. B) You are in debt. C) You have no money at all. D) You have more expenses than income.
A) It increases the cost of goods and services. B) It makes you richer. C) It has no impact on your budget. D) It decreases the cost of goods and services.
A) Your credit score. B) The value of your assets minus your liabilities. C) The amount of money in your bank account. D) Your annual salary. |