You should save up a $500 emergency fund before you pay off your debt.
Lesson 6 Quiz

Quiz
•
Mathematics
•
12th Grade
•
Easy
Jacquelyn Rios
Used 2+ times
FREE Resource
11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the snowball method?
Paying off the smallest debts and then moving onto the progressively larger ones as quickly as possible.
Making a big snowball for the big snowball fight.
Paying off debts largest to the smallest.
Budgeting your expenses starting from smallest to largest.
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Why is it important to get out of debt?
Select all that apply
To have more money to spend on yourself. (pay yourself first)
To have more money to spend on others. (being generous)
To have more money to spend on games on your phones.
4.
DRAG AND DROP QUESTION
45 sec • 1 pt
An effective method of getting out of debt is the (a) because you pay off your smallest debts and then move into your largest ones.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is the snowball method effective?
It builds your confidence.
It isn't.
It gives you back some of your money.
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
How does your debt affect your generosity?
You have less time to give if you are busy paying off debts.
You don't have money to give to others if you have debt to pay off.
You give more because you do not care about your debt.
7.
DRAG AND DROP QUESTION
30 sec • 1 pt
Paying off debt is not a math problem—it is a (a) problem.
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