Review: Financial Literacy, part 1

Which of the following is the best reason to use cash for purchases?

Income earned on an hourly basis is called a:

Which of the following is NOT a successful budgeting strategy?

Which factor has the biggest impact on a credit score?

Which of the following is a variable expense for many adults?

Before buying a new computer, to do some research to help you selectthe best model for your needs, you should try

What is the problem with paying only your minimum credit card balance each month?

You received $50 as a birthday gift and chose to spend it on new wallpaper for your room. What is the opportunity cost?

________________ is usually paid on a biweekly or monthly basis for professional employment.

Which of the following expenses should be included in a typical budget?

Select the answer that best describes opportunity cost:

Ashley wants to use money from her checking account to make a purchase. Which payment method should she use?

Which of the following statement is TRUE:

Your friend's parents are worried about going over their budget for the month. Which expense would suggest is not a need

Which of the following is NOT true of a budget?

What is the best strategy for avoiding credit card interest?

__ is withheld from a paycheck to fund government services as health care, national defense, and scientific programs.

Which of the following is not a source of income?

Which of the following would be considered a want for most people?

Which of the following is the best reason to use cash for purchases?