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Module 1 Money Management Flashcards | StudBud
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Module 1 Money Management
Module 1 Money Management
34 terms
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StudBud Administration
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Module 1 Money Management Review Game
Flashcards
34 cards
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Practice quiz
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Questions
34
Answers
1
Total amount of money you earn before taxes and other deductions are withheld?
Net pay
Gross pay
Before tax pay
Take home pay
2
How many months will it take to save $3200 if you save $200 each month?
12 months
15 months
16 months
14 months
3
Savings should be included in your budget?
True
False
4
How many years will it take to save $7200 if you save $300/month?
3 years
4 years
2 years
1 year
5
Delayed gratification is buying what you want now no matter the consequences later?
True
False
6
Beliefs and practices in your life that are important to you and influence your decisions
Goal
Expenses
Income
Values
7
Interest earned on a savings account is considered income?
False
True
8
Your cash flow represents the money used on expenses but your income is not considered?
True
False
9
How many months will it take to pay of a $36,000 if you pay $250 per month?
140 months
142 months
144 months
143 months
10
Jen has to save $1200 in the next 12 months. How much should she budget for each month?
$1200
$100
$150
$200
11
How many years will it take to pay off a $36,000 loan if you pay $250 per month
36 years
10 years
12 years
11 years
12
How many years will it take to save $12,000 for a new car if you save $500 per month?
4 years
3 years
2 years
1 year
13
How many months will it take to save $500 if you save $50 per month?
20 months
10 months
5 months
15 months
14
A budget should not have a time frame on it?
False
True
15
The value of what is given up when you choose one option over another?
Expense
Goal
Value
Opportunity Cost
16
The money you receive?
Income
Budget
Costs
Expense
17
Money given to you by your parents is not considered income because you didn't earn it?
False
True
18
Which is considered a need?
Jeans
Water
Comforter
Car
19
When you buy something impulsively?
Instant gratification
Current gratification
Immediate gratification
Delayed gratification
20
What does PYF stand for?
Point Your Finger
Pay Yourself First
Pay Yourself Fourth
Pull Your Foot
21
The money you have coming in a going out?
Cash flow
Budget
Expenses
Income
22
The type of expense gas for your car would be?
Variable
Fixed
Not needed
Periodic
23
Considered the most important expense by financial experts?
PYF
School loan
Mortgage
Car loan
24
Another name for a budget?
Spreadsheet
Spending log
Income plan
Spending plan
25
Budget should be written in stone and never adjusted?
True
False
26
Something you may not have to pay every month; can fluctuate in costs?
Periodic Expenses
Fixed Expenses
Movable Expenses
Variable Expenses
27
Larry has to save $3600 for college in the next 24 months; how much should he save each month?
$150
$360
$100
$125
28
The type of expense your car maintenance would be?
Auto
Variable
Periodic
Fixed
29
Cali needs $4800 for college in 2 years; how much should she save each month?
$100
$150
$200
$400
30
The type of expense your rent would be?
Fixed
Default
Variable
Periodic
31
Something you aim for in the future?
Budget
Value
Expense
Goal
32
Tom needs 4 new tires; cost $75 each; he has 3 months to save; how much each month?
$75
$150
$100
$125
33
These happen every month and are the same amount?
Constant Expenses
Periodic Expenses
Fixed Expenses
Variable Expenses
34
Which is considered a want?
Water
Housing
Smart phone
Food
