What should you not give to strangers?

Home address, Money, Account number

What is a passive income idea?

Investing in stocks, creating an ebook

What is a SMART goal?

Specific, Measurable, Achievable, Relevant, Time-bound

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Mastering Personal Finance

20 termsStudBud Administration

Test your knowledge on budgeting, financial goals, and money management

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Questions 20

Answers

1
What is a purchase justification machine?
Reasons to budget
Reasons to invest
Reasons to save
Reasons to buy
2
What should you not give to strangers?
Home address
Phone number
Money
Account number
3
What is a passive income idea?
Spending on wants
Ignoring savings
Investing in stocks
creating an ebook
4
Which is a long-term financial goal?
Buying groceries
Buying a car
Dining out
Paying bills
5
What should you do before buying something?
Ask 1 question
Ask 4 questions
Ask 2 questions
Ask 3 questions
6
What does budgeting help you avoid?
Income
Savings
Debt
Expenses
7
What is an emergency fund?
Money for emergencies ONLY
Money for shopping
Money for gifts
Money for vacations
8
What does the 50/30/20 rule divide?
Goals
Expenses
Time
Income
9
Budgeting helps you control your...
Relationships
Time
Health
Money
10
True or false: Budgeting reduces financial stress
True
False
11
True or false: Needs are essential for survival
True
False
12
Which app helps with financial literacy?
Zogo
Instagram
Facebook
Twitter
13
What is a SMART goal?
Specific, Manageable, Achievable, Realistic, Time-bound
Simple, Measurable, Achievable, Relevant, Timely
Specific, Measurable, Achievable, Relevant, Time-bound
Simple, Manageable, Achievable, Realistic, Timely
14
Which is a budgeting tool?
Excel
your phone (notes)
Facebook
Instagram
15
Which is a good money habit?
Overspending
Ignoring bills
Budgeting
Impulsive buying
16
How would you spend $500?
Spend it
Invest it
Donate it
Save it
17
Which is a budgeting technique?
10/20/70 rule
50/30/20 rule
30/30/40 rule
20/40/40 rule
18
What should you prioritize in budgeting?
Wants
Entertainment
Hobbies
Needs
19
Which is a benefit of budgeting?
More stress
Less income
More debt
Financial freedom
20
True or false: Impulsive purchases are encouraged by budgeting
True
False

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