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Budgeting and the Stock Market Game Flashcards | StudBud

Explore/Budgeting and the Stock Market Game

Budgeting and the Stock Market Game

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Questions 10

Answers

1
Most millionaires use a budget to manage their money AND they started early in life.
True
False
2
Risk means....
You may make lots of money, but you may lose it, too.
You can invest, but will not lose more than you gain
You can invest with no consequence of losing any money
You only invest what you can afford to lose.
3
What is someone who is financially literate able to do?
They learn how to invest
All of the above demonstrate financial literacy.
They learn how to manage debt
They learn how to budget
4
What does it mean to be "financially literate?"
To only save money
The ability to manage money
To keep track of how much you spend only if it's for luxury items.
To spend more than you earn
5
A ________ is a plan for spending and saving.
piggy bank
job
stock
budget
6
Examples of Budget Boosters are
All of these are examples of Budget Boosters.
Record your spending, identify needs, spend wisely
Pay down debt, use cash, work more, spend less
Prioritize saving, save weekly, plan for the long-term
7
Investing for the long-term means
You put all of your money into Game Stop in hopes it will double overnight.
You buy stocks in hopes your money grows over time.
You spend more than you earn on items that show everyone you have money
You put money in the bank and accrue interest over a month
8
If you start investing $20 a week at a 5% rate of return, how long will it take you to accumulate $35, 713?
20 years
45 years
50 years
10 years
9
According to a national survey, what do teens spend the largest part of their money on?
food and clothing
video games and entertainment
entertainment and food
clothing and entertainment
10
What is one of the fundamentals of personal finance?
earning
budgeting
saving
Spending