Module 1: Money Management

Question 1

I plan to buy a $1500 car in 18 months, this is an example of what kind of goal

Accepted Answer

Long Term

Question 2

The best way to stay on track with your budget is to use spreadsheet software to create it

Accepted Answer

False

Question 3

Setting aside money to have on hand for unexpected expenses and events

Accepted Answer

Emergency Fund

Question 4

Giving up the next best choice when making a decision

Accepted Answer

Opportunity Cost

Question 5

Any money you receive as a paycheck or allowance

Accepted Answer

Income

Question 6

Which of the following is considered a Need

Accepted Answer

A place to sleep

Question 7

Which of the following factors can influence decisions?

Accepted Answer

All of these

Question 8

A personal budget should be planned for a specific period of time

Accepted Answer

True

Question 9

A value can be described as

Accepted Answer

A belief or idea you consider important or desirable

Question 10

How much of your total income should be set aside for PYF?

Accepted Answer

10%

Question 11

Saving a certain amount of money to be used later for financial goals

Accepted Answer

PYF

Question 12

You can think of PYF as Proving Your Finances

Accepted Answer

False

Question 13

You should follow the SAME budget as long as necessary to control your spending

Accepted Answer

False

Question 14

A predictable amount of money spent to buy something and is the same every time

Accepted Answer

Fixed Expense

Question 15

Income and spending must balance each other

Accepted Answer

True

Questions 15