Which is a SMART goal example?

I want to save $1,000 in 6 months by putting aside $42 each week

What is the key purpose of making a monthly spending and saving plan?

Guide how you use your money efficiently

How can you increase your income?

Develop skills for high-demand jobs

What is a SMART goal?

Specific, Measurable, Action-oriented, Reachable, Time-bound

What is the purpose of prioritizing bills when money is short?

Decide which bills to pay first

What is the first step to prioritizing bills?

Examine consequences of not paying

How can you actively use your spending and saving plan?

Record saving, sharing, and spending

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Money Smart Workshop

15 termsStudBud Administration7 plays

Test your knowledge on SMART goals, financial decision-making, and personal finance strategies

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Questions 15

Answers

1
How can you resist impulse buying?
Follow social media trends
Buy everything on sale
Ignore all advertisements
Set a budget
2
Which is a SMART goal example?
I hope to buy a car
I want to be rich someday
I want to save $1,000 in 6 months by putting aside $42 each week
I’ll try to save money when I can
3
What is the purpose of a spending and saving plan?
Manage money effectively
Increase expenses
Prioritizing your friends
To buy a car
4
What influences financial decisions?
Social media and ads
Only personal experiences
Only financial advisors
Friends and family only
5
What is the key purpose of making a monthly spending and saving plan?
Prioritize your wants over needs
Track how much money you’ll make next year
Guide how you use your money efficiently
Increase your chances of spending
6
How can you increase your income?
Develop skills for high-demand jobs
Visit community action agencies
Find help with energy bills
Get free tax preparation assistance
7
What is a SMART goal?
Specific, Measurable, Action-oriented, Reachable, Time-bound
Strategic, Meaningful, Attainable, Realistic, Timed
Specific, Measurable, Actionable, Realistic, Timed
Simple, Manageable, Achievable, Relevant, Timed
8
What is an example of an external influence?
Financial literacy
Peer pressure
Personal values
Savings accounts
9
What should you do first when wanting to save money?
Ignore your goals
Buy that thing you wanted before you start saving
Spend without planning
Write down your goals
10
What is the purpose of prioritizing bills when money is short?
Save money for bills
Decide which bills to pay first
Increase income for bills
Reduce expenses for bills
11
What is the first step to prioritizing bills?
Contact creditors for extra time
Ignore the bills until you get a late notice
Examine consequences of not paying
Find ways to increase income
12
Is creating a monthly spending and saving plan important for managing money effectively?
False
True
13
What is a key takeaway?
Values guide decisions
Goals are unimportant
Impulse buying is good
Money is always available
14
How can you actively use your spending and saving plan?
Increase income
Prioritize bills
Record saving, sharing, and spending
Decrease expenses
15
What is a good resource?
Random online articles
Social media influencers
Consumer finance website
Friends' opinions

Money Smart Workshop Flashcards | StudBud