Finance %'s
Your car payment shouldn't be more than ___% of your monthly income.
a) 30%
b) 20%
c) 40%
b) 20%
Always know (this) before you go shopping for a car.
- How much you can afford to spend
- What you're looking for in a vehicle
No matter what form it's in, investing always involves this.
Risk
The more you ____, the more you ____!
a) whine; pay
b) make; pay
c) pay; make
b) make; pay
Fun fact: paper money actually has an average lifespan. Which of these bills typically lasts longer (in years) before it starts to fall apart?
a) $20
b) $100
c) $1
b) $100 (22.9 years)
**The $20 bill typically lasts 7.8 years, and the $1 bill only lasts an average of 6.6 years
Your rent/mortgage shouldn't be more than ___% of your monthly income.
a) 30%
b) 20%
c) 40%
a) 30%
Mike has the option of signing for a 3-year auto loan or a 7-year loan term. Which option will result in lower payments, but more interest?
7-year loan
Which of these best describes how a bond usually performs in the market?
a) Low risk; slow growth
b) High risk; fast growth
c) High risk; slow growth
a) Low risk; slow growth
Tax Day is April 15th of every year. What form do you need from your employer to file your taxes?
a) W-2
b) W-4
c) W-9
a) W-2
In 2009, China was going through an economic crisis, and the government desperately needed tax money. Citizens in Hubei, China were ordered to do (this), or pay a fine.
a) Have kids
b) Smoke cigarettes
c) Join the Army
b) Smoke cigarettes
Cigarette taxes provided steady revenue, so a quota was set to increase sales.
Financial experts recommend that a person saves __________ of their monthly income for emergencies.
a) 20% - 30%
b) 18% - 22%
c) 10% - 15%
c) 10% - 15%
You're looking at a house to buy. The house is old, and has a few flaws. Which of these issues would a deal breaker?
a) Cracks in the ceiling
b) Water heater leaking in the basement
c) Every bedroom is painted Pepto Bismol pink. Every. Single. Bedroom.
a) Cracks in the ceiling
Which of these is a way to grow money that doesn't involve the stock market?
a) Mutual Fund
b) Individual Retirement Account (IRA)
c) Certificate of Deposit (CD)
c) Certificate of Deposit (CD)
To confirm that you paid your fair share that year (or not).
Mark Zuckerburg, inventor of Facebook, bought ___ houses surrounding his own in Palo Alto, CA just so he didn't have to have any neighbors.
a) 6
b) 3
c) 4
c) 4
Shaniqua is trying to buy a $320,000 home. She knows that financial experts recommend a 20% down payment. How much is this?
$64,000
You're on autotrader looking for a used car to buy. Which car sounds like the best deal?
a) 7 years old w/ 200,000 miles on it; no accident history
b) 10 years old w/ 75,000 miles on it; one accident, fully repaired
c) 5 years old w/30,000 miles on it; no accident history
c) 5 years old w/30,000 miles on it; no accident history
Describe a "moderate" investor.
A person who is willing to take on some risk in the stock market to grow funds, but also needs a healthy balance of both stocks and bonds to protect assets.
If your employer is not taking enough tax out of your paychecks, what can you do to make sure you are paying enough, and avoid owing money at the end of the year?
Add Extra Withholding on your W-4, to make sure your employer takes enough money out to cover your taxes.
In 1991, the Supreme Court passed the _______________ ruling, making it illegal for a homeowner to sell their house without disclosing to the buyer that it is haunted.
a) Ghostbuster
b) Ghoulio
c) Full Disclosure
a) Ghostbuster
Shaniqua is trying to buy a $320,000 home. She can't afford to put 20% down on it, but she has about $17,000 saved up. What percent down would this be?
5.3%
a) Hank: Credit score: 620. Debt: $200,000. Income: $45,000/year.
b) Jill: Credit score: 730. Debt: $50,000. Income: $70,000/year.
c) Melissa: Credit score: 725. Debt: $175,000. Income: $75,000/year
b) Jill: Credit score: 730. Debt: $50,000. Income: $70,000/year.
You have a 401K account through your employer. You put $5,000.00 in the account this year. Your employer matched your contribution by 50%. How much money went into your 401K TOTAL?
$7,500
Jenny is filing her taxes. She's not sure if she should take the Standard Deduction, of if she should itemize. She's a Married taxpayer. She and her spouse have $17,000 worth of expenses they can deduct. Based off the current Standard Deduction for Married taxpayers, should she itemize or take the standard?
Standard (because married couples get $32,200 worth of deduction, which is more than $17,000).
The most expensive stock on the market right now is _________________, with one share costing $610,000.00.
a) Berkshire Hathaway (BRK.A)
b) Autozone (AZO)
c) NVR (NVR)
b) Berkshire Hathaway (BRK.A)