Budgeting

Needs

100

What should be your main priority?

A. New TV

B. Electric Bill

C. Pet food 

B. Electric Bill

200

What should you do if you win the lottery? 

A. go buy a new couch

B. Pay off debt

C. Buy a car

B. pay off debt 

300

All are needs except?

A. Food

B. Shelter

C. Pet Food 

C. Pet Food

400

You Should Have An Emergency Fund Of:

A. 3 to 6 months of income 

B. $500

C.$50,000

A. 3 to 6 months of income

500

Put In Order From Most Important To Least Important:

A. buying new Jordan's

B. electric bill 

C. Food

C. Food

B. electric bill

A. buying new Jordan's

Investing

100

Where Should Your Money Directly Deposit To?

A. Checking Account

B. Savings Account

C. Bank 

A. Checking Account 

200

What Should Your First Big Investment Be As A Teeneger? 

A. House

B. Car

C. Stocks 

C. Stocks 

300

What Percentage of Your Paycheck Should you Put into Savings?

A. 50%

B. 25%

C. 20%

C. 20%

400

What Has The Best Return On Your Money? 

A. Savings Account

B. Stocks

C. Bonds 

B. Stocks

500

What is the best Investment?

A. Long Term Certificate Of Deposit 

B. High Yield Savings Account

C. Stocks

B. High Yield Savings Account 

Debt

100

What are you in if you owe money to someone?

A. Deficit

B. Money owed

C. Debt

C. Debt 

200

Debt can hurt your credit score: 

A. True

B. False 

A. True 

300

What is Chapter 7 Bankruptcy? 

A. You give your assets up to help pay off debt with the value of your assets

B. The government cancels and forgets about all your debt

A. You give your assets up to help pay off debt with the value of your assets

400

What is a debt resolution? 

A. When you start new and forget about all your debt

B. When you come up with a plan to pay off debt 

C. You file bankruptcy 

B. When you come up with a plan to pay off debt

500

What is the most common type of debt? 

A. Credit card

B. Auto loans

C. Student loans 

D. Home mortgages 

D. Home mortgages

Budgeting Plans

100

Budgeting is for poor people? 

A. True

B. false 

B. false

200

Can everyone set up a budgeting system for themselves? 

A. Yes 

B. No

A. Yes

300

Why doesn't everyone budget?

A. They are for poor people

B. They are intimidated by a budget

C. They are too good

B. They are intimidated by a budget

400

All are budgeting plans/types except: 

A. Master Budget

B. Activity-Based Budgeting

C. Cheap Budget 

C. Cheap Budget

500

What is the most common type of budget types? 

A. Incremental budgeting 

B. Cash-based

Zero-based

A. Incremental budgeting

Gifts/Donations

100

It Is Okay To Give Someone A Gift While On A Budget?

A.Yes

B.No

A.Yes

200

You shouldn't spend over __ for a gift or donation

A. $10

B. $100

C. $1,000

C. $1,000

300

If you are on a tight budget should you buy someone a gift? 

A.  Yes

B. No

B. No

400

What is an easy way to get gifts while on a budget?

A. Order nice things online

B. Make gifts

C. Go out to stores and pay for gifts

B. Make gifts

500

Should you say no to all donation requests while on a tight budget?

A. Yes

B. No

B. No