Jeopardy I

Saving

100

_{Why is it important to have an emergency fund?}

    _{•    A) For a new phone}

    _{•    B) For unexpected expenses like car repairs}

    _{•    C) For vacations}

B) For unexpected expenses like car repairs

200

What is a good goal for an emergency fund?

    •    A) 1 month of expenses

    •    B) 3-6 months of expenses

    •    C) 1 year of expenses

B) 3-6 months of expenses

300

The initial amount of money you deposit or invest is called 

a. Profit

b. Interest

c. Principal

Principal

400

Is the average rate of growth for an investment over a period of time 

A.) Compound Growth
B.) Sales Tax
C.) Budget

Compound Growth

500

Where is the best place to keep your emergency savings?

    •    A) Under your mattress

    •    B) In a high-yield savings account

    •    C) In your wallet

High yield savings account

Key Questions

100

Which of the following would be considered an emergency fund expense?

A. Lost cell phone

B. Video game sale

C. Blown car tire

D. Shoe sale

C. Blown car tire

200

When you make a purchase but later wish you hadn‘t done so, you experience:

A. Selfishness

B. Buyer‘s remorse

C. Impulsiveness

D. Time value

B. Buyer‘s remorse

300

Which of the following questions helps you determine if something is actually an emergency expense? 

A. Is it urgent?

B. Is it unexpected?

C. Is it necessary?

D. All of the above

All of the above

Budgeting

100

What is the main purpose of a budget?

    •    A) To track spending and manage money

    •    B) To find discounts on groceries

    •    C) To calculate taxes

A) To track spending and manage money

200

Which of the following is an example of a fixed expense?

    •    A) Monthly rent

    •    B) Dining out

    •    C) Entertainment

Monthly Rent

300

What should you consider first when creating a budget?

    •    A) Your favorite hobbies

    •    B) Your income and expenses

    •    C) A list of your friends

Income and expenses

400

Which expense is most likely to vary each month?

    •    A) Car payment

    •    B) Utilities

    •    C) Mortgage

Utilities

500

 If your expenses are higher than your income, what should you consider doing?

    •    A) Ignoring it

    •    B) Reducing your expenses

    •    C) Adding more expenses

Reducing your expenses

Budgeting II

100

Expenses that do not change from month to month (like rent, mortgage, or car payment).

What are fixed expenses

200

These taxes are taken out of your paycheck by the federal government and used to provide income to elderly people.

Social Security

300

These taxes are taken out of your paycheck and used to pay for elderly people's health care.

Medicare

400

Your wages AFTER taxes and deductions.

Net Pay