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Personal Money Management Flashcards | StudBud
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Personal Money Management
Personal Money Management
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SS6E13
Flashcards
16 cards
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Questions
16
Answers
1
Which of the following is an example of a large scale purchase?
Car
All of the above
House
Major medical procedure
2
Where does the money come from for a household to survive on a monthly basis?
Expenses
Emergencies
Income
Savings
3
A firefighter or policeman earns which type of income?
None of the above
Wage
Salary
Commission
4
Planning for the future is an essential part of the _________of a household.
expenses
budget
debt
saving
5
___________a type of income in which a person earn a certain percentage of what he or she sells
Retirement
Wage
Salary
Commission
6
A household income must:
Must be manage responsibly
Must not be spent on items the household can afford
All of the above
Meet the basic needs of the household
7
____________is required for a household to be able to provide basic needs
News
Checks
Income
Insurance
8
A budget is helpful because income is __________
limited
plentiful
work
money
9
Which of the following is based on a hourly exchange of labor for income?
Wage
Salary
Retirement
Commission
10
What are some aspects pf a detailed budget?
Expenses
Income
Savings
All of the above
11
Which of the following is a reason to have money saved?
To pay for a financial emergency
For a large scale purchase
To avoid debt
All of the above
12
Basic needs does NOT include which of the following?
vacation
food
utilities
housing
13
A budget plan is to make sure that household can meet its basic needs.
True
False
14
Which of the following is the best definition of minimum wage?
A legal way for companies to avoid payment
The government sets a minimum for companies to pay employees
There is no minimum wage in the United States.
The employees pick how much they would like to earn.
15
Which of the following is the best example of a financial emergency?
A flat tire
Expensive clothing
Vacation in Paris
Movie tickets
16
A high-skill job typically pays more than a low-skill job.
False
True
