Everfi Future Smart

Front

Which of the following would be considered a want rather than a need for most people?
Warm clothes in the winter,
A place to live,
A smartphone,
Nutritious food

Back

A smartphone

Front

What is an opportunity cost?

Back

The trade-off of making one choice and giving up a different choice.

Front

You are creating a budget for your new business. What should you include?

Back

All income and expenses

Front

Which of the following is a variable expense for many adults?
The monthly cost of eating out at restaurants, The monthly rent payment, The monthly payment on their car loan, The monthly payment for health insurance

Back

The monthly cost of eating out at restaurants

Front

Your friend’s parents are worried about going over their budget for the month. Which expense would you suggest is NOT a need? Options: Rent payment, Car insurance, Cable service, Groceries

Back

Cable service

Front

If you know the unit prices of two different brands of an item, you are better able to:

Back

Compare the prices of the two brands

Front

Which of the following is NOT a successful budgeting strategy?
Options:
Keep some extra money in your budget for emergencies,
Pay with a credit card if you have a hard time sticking to a budget,
Think about which items are your most important needs,
Revisit your budget regularly and make adjustments

Back

Pay with a credit card if you have a hard time sticking to a budget

Front

Which of the following is NOT true of a budget?
Budgets help you plan how to spend money you earn or receive,
Once a budget is set, it should not be revisited,
A budget can include charitable giving,
Budgets include both income and expenses

Back

Once a budget is set, it should not be revisited

Front

A ________________ is usually paid on a biweekly or monthly basis for professional employment.

Back

Salary

Front

What is the best strategy to avoid paying interest on your credit cards? Options: Pay the minimum balance each month, Pay the full balance each month, Have credit cards from two different banks, Make payments online

Back

Pay the full balance each month