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

putting aside money for savings

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

monitor and adjust month to month

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

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