Duplicate of Module 1: Money Management

Question 1

Any money received as paycheck or allowance is known as

Accepted Answer

income

Question 2

An expense that costs the same every time, usually monthly, is called a ___________

Accepted Answer

fixed expense

Question 3

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

Accepted Answer

PYF

Question 4

To change your spending or income so you aren't spending more than you are taking in, you can

Accepted Answer

all of these

Question 5

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

Accepted Answer

emergency fund

Question 6

T/F: You should set specific money goals for yourself if you are trying to make a big purchase.

Accepted Answer

True

Question 7

A belief or desire that one considers to be important is called a(n)

Accepted Answer

value

Question 8

Which of the following can influence a person's decisions?

Accepted Answer

all of these

Question 9

A strategy that will help a person stick to a spending plan is

Accepted Answer

all of these

Question 10

Which of these is considered a need?

Accepted Answer

shelter

Question 11

Giving up the next best choice when making a decision is known as

Accepted Answer

opportunity cost

Question 12

A short-term goal has a time frame of

Accepted Answer

0 to 3 months

Question 13

A value can be described as _______________________.

Accepted Answer

a belief or idea you consider important or desirable

Questions 13