Financial Health

Saving

100

Which budgeting method is best for students?

Zero-Based Budgeting

200

Which step of Dave Ramsey's "7 Baby Steps) is saving for your kid's college fund?

step 5

300

How much of a household's gross income should go to retirement accounts?

a) 10%

b) 25%

c) 13%

d) 15%

d) 15%

400

Which type of fund should you save to first, and how much should you save initially?

a) $1,500 to your college fund

b) $1,000 to your emergency fund

c) $500 to your retirement fund

d) $1,500 to your emergency fund

b) $1,000 to your emergency fund

Debt

100

What is a loan?

a) a grant

b) borrowing from the bank

c) money you withdraw early from your retirement account

d) money from stocks

b) borrowing from the bank

200

Which step of Dave Ramsey's "7 Baby Steps) is paying off your debt (not your mortgage)?

Step 2

300

Which step of Dave Ramsey's "7 Baby Steps) is paying off your mortgage?

step 6

400

Which of the following is a form of debt?

a) down payments

b) loans

c) annual taxes 

d) financial aid

b) loans &  d) financial aid

Random

100

Which type of account requires a debit card?

Checking account

200

How many students at MPTC recive financial aid?

a) less than 25%

b) somewhere between 25% and 50%

c) more than 50%

d) 100%

c) more than 50%

300

Which type of retirement fund is recommended for students?

Roth IRA

400

Which of these accounts has a higher interest rate but can't be touched (withdrawn) until maturity unless you want to pay an early withdrawal penalty?

a) checking account

b) savings account

c) money market account

d) certificate of deposit

d) certificate of deposit