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LEAF: Trivia Night Flashcards | StudBud
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LEAF: Trivia Night
LEAF: Trivia Night
25 terms
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StudBud Administration
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14 plays
Test your knowledge on fundamental concepts and strategies for managing your finances
Flashcards
25 cards
F
Practice quiz
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Host live
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Questions
25
Answers
1
What is the recommended amount of time your emergency fund should cover expenses?
1 Year
1 Month
3-6 Months
7-9 Months
2
Which factor has the biggest impact on your credit score?
Your payment history
The type of credit cards you have
The number of credit cards you have
Your income
3
True or False: "You should avoid credit cards to stay out of debt"
True
False
4
What saving method stops you from spending your savings by forcing you to set a certain percentage of your income aside?
Pay Yourself First
30-day Rule
Budgeting
50/30/20 Rule
5
The amount of money left over after spending and other obligations are deducted from earnings is called ...
Funds
Cash
Savings
Expenses
6
This term describes money set aside for unexpected expenses, like medical bills or car repairs.
Petty Cash
Savings Account
Trust
Emergency Fund
7
What is the term for a budgeting strategy where you divide your income into needs, wants, and savings?
Zero-based Budget
No-budget
Pay-yourself-first
50/30/20 Rule
8
This budgeting method involves using physical cash and placing it in different sections for various spending categories
50/30/20 Method
30 Day Rule
Envelope Method
Bucketing Method
9
what percentage of your income should ideally go towards rent?
20%
10%
30%
40%
10
True or False: "Renting is just throwing money away - buying a home is always a smarter financial decision"
False
True
11
What is the name of the federal program that offers discounted public transportation to college students in the US?
The College Mobility Discount Initiative (CDMI)
There is no nationwide federal program
The National Student Transit Assistance Program (NSTAP)
The Student Commute Savings Program (SCSP)
12
True or False: Most Americans feel confident managing their finances.
False
True
13
Which of the following is the best first step to improving your financial literacy?
Investing in the stock market immediately
Opening multiple credit cards for more financial flexibility
Taking out a loan to start building credit
Tracking your income and expenses to understand your spending habits
14
What is the name of the UVA personal financial resource led by students?
Peer Financial Learning Program
Peer Led Learning
Peer Financial Counseling
Peer Financial Coaching
15
What percentage of Americans do not have enough savings to cover a $1,000 emergency expense?
64%
46%
32%
57%
16
Which of the following is the best way to build credit?
Only use cash for all purchases
Max out your credit card and pay it off later
Apply for multiple credit cards at once
Make small purchases and pay them off in full each month
17
What is the standard credit card utilization percentage of how much credit you should use?
50%
30%
60%
40%
18
Which types of savings account typically offers the highest interest rates?
Traditional Savings Account
Money Market
High-yield Savings Account
Certificate of Deposit (CD)
19
Studies found that most Americans live paycheck to paycheck. What percentage of US consumers reported this in 2023?
74%
42%
63%
58%
20
Where is the food pantry located at UVA?
2nd floor of Newcomb inside the MSC
5th floor of Rice Hall
1st floor of Newcomb inside the Student Council room
Basement of Newcomb inside of Hoos First
21
What is the main problem with only making the minimum payment on a credit card?
You can only use the card for small purchases
Your credit score automatically decreases
The bank will cancel your card
You end up paying much more in interest over time
22
Which of these is NOT a housing option for college student?
Residential Advisor
On-grounds
Tiny Homes
Off-grounds
23
A plan that shows you how you can spend your money every month is called ...
Financial Plan
Budgeting
Couponing
Payment Plan
24
True or False: On-campus housing is always the cheapest option
False
True
25
Off-grounds housing tend to have this kind of lease.
1 Year
6 Months
9 Months
1.5 Years
