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SLS1501 - CHAPTER 2: Taking Charge of Your Time & Money Flashcards | StudBud
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SLS1501 - CHAPTER 2: Taking Charge of Your Time & Money
SLS1501 - CHAPTER 2: Taking Charge of Your Time & Money
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Multiple Choice Questions - Review of SLS1501 - CHAPTER 2: Taking Charge of Your Time & Money
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Answers
1
Credit card offers for college students are great ways to manage money.
False
True
2
Which of the following would be the most effective way to control your expenses?
Use credit cards instead of cash
Cook for yourself
Buy lower quality, cheaper products
Lease a car instead of purchasing a new one
3
To effectively manage your money, you should do which of the following?
Spend less than you have
Apply money-management strategies
Tell the truth about how much you have
All of these
4
The best way to approach time management is to remember that you are not in control of time.
True
False
5
What’s one useful strategy for planning?
Work backward from the future to the present
State goals as generally as possible
Don’t act until your plan is complete
Time management techniques (calendars, lists) to focus on what’s important
6
To get the most out of your day, don’t include “fun” time in your schedule.
False
True
7
1. Effective time-management skills include:
Studying 10 minutes for every hour in class.
Scheduling fixed commitments and “holes” to allow for the unexpected
Volunteering for every project that crosses your path.
Scheduling random time for sleeping and eating.
8
Strategies for using credit cards wisely include:
None of these
Paying off the balance each month.
Using a card with a high interest rate.
Paying off the minimum each month.
9
What method is recommended for a weekly review of the tasks on your to-do list?
None of these.
Three D: Delete it, Do it now, or Defer it.
Three R: Review, Revise, or Recommend
ABC: Action, Blow off, or Compromise
10
What’s a good way to make more money?
Avoid financial aid
None of these
Delay your education
Work while you’re in school
11
Which of the following is an example of a “free fun” activity?
Ride a bike
Picnic in the park
Play board games
All of these
12
Which of the following are effective strategies for using credit cards?
All of these
Pay off the balance each month
Avoid cash advances
Use just one credit card
13
What is a good suggestion to limit worries about money?
Ignore your bills and creditors.
File for bankruptcy.
Live within your means.
Use student loans to get by.
14
You should never charge more on a credit card than you can pay off the next month.
False
True
15
Most money problems result from spending more than is available.
True
False
16
What’s the best way to achieve a goal?
Keep it general
Don’t tell others about it
Translate it into specific, concrete behaviors
Don’t be bold, play it safe
17
What’s one way to get money for the future?
Start saving now
Buy collectables to sell online
Invest all of your money in stocks and bonds
Cancel your insurance policies
18
You should make a to-do list only for your busiest days.
False
True
19
The first step in choosing and committing to overcoming procrastination is:
Set up small consequences for failing to keep your commitment
Observe your behavior and record the results
Practice without self-judgment
Specify your goal in numerical terms whenever possible
20
What’s one way in which planning can set you free?
It helps you “dig in”
It lets other people set your course for you
It forces you to make constant decisions
It can help you achieve long-term goals
