1. Money Matters Semester Review Chapter 11. Baby Step #3
$500/$1000 in Emergency Fund, 3-6 months expenses , 15%25 of income into a retirement plan, Debt Snowball
2. printable Means that money is neither good or bad
Murphy%27s Law, Baby Step 2, amoral, finite
3. If it can go wrong, it will go wrong!
Baby Step 4, Murphy%27s Law, Rule of 72, Dave%27s 80/20 rule
4. Saving money for a purchase and letting the interest work for you rather than against you.
Compound Interest, Simple Interest, Sinking Fund, Mutual Fund
5. Saving is all about
compound interest, emotion and contentment, how much money you make, budgeting
6. For most people, a fully-funded emergency fund will be about
$1000, $3,000-$5,000, $5,000-$10,000, $10,000-$15,000
7. Which of the following is true about the concept of saving?
Saving must become a priority., You will save when you make more money, You must pay your bills first, then yourself, all choices are true
8. online education A sinking fund approach means:
Saving and paying cash, buying with credit and paying for it on full when the interest is due, buying with credit because of a low interest rate, 90 days same-as-cash
9. online learning games Which is the correct order of priorities for your money?
Pay bills, save, give, Save, pay bills, give, Give, save, spend, It is not important which order you follow
10. Which of these is not a key to saving money?
Discipline, Focus, Your income, Making savings a habit and a priority
11. generate answer keys How much does the average person have in savings?
$25,000, $10,000-15,000, $1,000, 3,800
12. create online tests Interest on interest
simple interest, sinking fund, Key to wealth building, compound interest
13. The typical American has a ________ savings rate
75%25, positive, negative, 15%25
14. web pageSaving must become a ________.
priority, habit, long term goal, after thought
15. The percentage by which your money grows is called the ________.
yield, compound interest, rate of return, prime rate
16. online learning games Savings is about:
Making more money and discipline, Pride and greed, Contentment and emotion, Contentment and earning more money
17. For which of the following should you save?
Wealth building, Purchases, Emergency fund, You should save for all of these!
18. Which of the following is true about the concept of saving?
Saving must become a priority., You must pay yourself first., You will save when you make more money., All are true about saving
19. Which statement is most true about a one-time investment for 40 years?
The interest rate does not matter if you leave it alone for 40 years, It is foolish to only make a one-time investment., Annual interest rate does matter on a one time investment, all are true
20. Which of the following would be the most sensible way to buy a $4,000 car?
Put down $500 and use 90 days same as cash financing, Use the sinking fund and save $400 for the next 10 months build your own quiz , shop around for the best interest rate on a $4000 car, ask your parents to cosign a loan
21. teacher Which of the following is not a reason to save?
Emergency fund, Purchases, Pay off debt, Wealth building