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