Budgets can be done monthly, after analyzing spending, it is best to:

monitor and adjust month to month

Even though PYF is listed as an expense it is really:

putting aside money for savings

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Financial Literacy Review

20 termsStudBud Administration156 plays

Test review for financial planning and budgets

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of the following is not considered a need
housing
a car
utilities
food
2
Financial Planning is
best to start when people are in their 30's
putting off money management for a later date
more difficult for single adults
a guideline for managing money
3
Probably the largest expense for a single person is?
monthly utility bill ( gas-water-electric)
renting an apartment
monthly food bill
monthly car payment
4
The 2 category headings in a budget are?
money earned & money lost
income & expenses
wants & needs
salary & occupation
5
The expense that is the easiest to adjust is:
cell phone bill
food bill
rent
entertainment
6
Salary after tax deductions
net salary
monthly salary
gross salary
budget salary
7
You have learned about budgeting in:
History class
Science class
Financial Literacy class
English class
8
deciding on what to spend money on first is:
prioritizing
implementation
budgeting
consumerism
9
a good starting point for PYF is
5 to 10% of net salary
10 to 20 % of net salary
25 to 50% of net salary
1 to 3% of net salary
10
PYF should be the first entry for
investments
expenses
needs
a percentage of net salary
11
Probably the most influential factor in a personal budget is:
the type of car a person drives
net salary
housing location
age
12
Budgets can be done monthly, after analyzing spending, it is best to:
monitor and adjust month to month
look for a new job after 1 month
stop after 3 months have been completed
implement the plan
13
Which of the following is not a fixed expense
gifts expense
electric bill
heating bill
cell phone bill
14
It is best to have a(n)
no budget
balanced budget
under budget
over budget
15
Which of the following goals is the most realistic for a high school student
finish H.S. by 11th grade and go to college by 16
to earn a high school diploma
to never be late for a class
get a perfect GPA upon graduation
16
A SMART GOAL SHOULD
all of the choices
realistic
be measurable
attainable
17
Even though PYF is listed as an expense it is really:
putting aside money for savings
putting money aside for entertainment
putting money aside for needs such as clothing
putting aside for a car
18
A neat and orderly way to format a budget is
an Excel Spreadsheet
binder
to use a PowerPoint slide
an accounting notebook
19
Which of the following goals is the most specific?
earning a college degree
saving for a vacation
buying a 2017 dodge challenger
getting a passing grade in math
20
Which of the following is the most specific time deadline
by the summer of 2018
by next winter
sometime next week
by May 20th, 2020

Financial Literacy Review Flashcards | StudBud

Financial Literacy Review

20 termsStudBud Administration156 plays

Test review for financial planning and budgets

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
Which of the following is not considered a need
housing
a car
utilities
food
2
Financial Planning is
best to start when people are in their 30's
putting off money management for a later date
more difficult for single adults
a guideline for managing money
3
Probably the largest expense for a single person is?
monthly utility bill ( gas-water-electric)
renting an apartment
monthly food bill
monthly car payment
4
The 2 category headings in a budget are?
money earned & money lost
income & expenses
wants & needs
salary & occupation
5
The expense that is the easiest to adjust is:
cell phone bill
food bill
rent
entertainment
6
Salary after tax deductions
net salary
monthly salary
gross salary
budget salary
7
You have learned about budgeting in:
History class
Science class
Financial Literacy class
English class
8
deciding on what to spend money on first is:
prioritizing
implementation
budgeting
consumerism
9
a good starting point for PYF is
5 to 10% of net salary
10 to 20 % of net salary
25 to 50% of net salary
1 to 3% of net salary
10
PYF should be the first entry for
investments
expenses
needs
a percentage of net salary
11
Probably the most influential factor in a personal budget is:
the type of car a person drives
net salary
housing location
age
12
Budgets can be done monthly, after analyzing spending, it is best to:
monitor and adjust month to month
look for a new job after 1 month
stop after 3 months have been completed
implement the plan
13
Which of the following is not a fixed expense
gifts expense
electric bill
heating bill
cell phone bill
14
It is best to have a(n)
no budget
balanced budget
under budget
over budget
15
Which of the following goals is the most realistic for a high school student
finish H.S. by 11th grade and go to college by 16
to earn a high school diploma
to never be late for a class
get a perfect GPA upon graduation
16
A SMART GOAL SHOULD
all of the choices
realistic
be measurable
attainable
17
Even though PYF is listed as an expense it is really:
putting aside money for savings
putting money aside for entertainment
putting money aside for needs such as clothing
putting aside for a car
18
A neat and orderly way to format a budget is
an Excel Spreadsheet
binder
to use a PowerPoint slide
an accounting notebook
19
Which of the following goals is the most specific?
earning a college degree
saving for a vacation
buying a 2017 dodge challenger
getting a passing grade in math
20
Which of the following is the most specific time deadline
by the summer of 2018
by next winter
sometime next week
by May 20th, 2020