NS4- Unit 9: Financial Wisdom

Financial freedom takes careful planning for most people.

• True

• False

Which word best describes the amount of money that is available for, required for, or assigned to a particular purpose?

• Bankruptcy

• Spreadsheet

• Budget

• Interest

Which word best describes the amount of money that is available for, required for, or assigned to a particular purpose?

• Budget Spreadsheet

• Personal finance software

• Budget box system

• All of the above

With the 70-20-10 saving rule, what percentage should be planned to be used for your living expenses?

• 70

• 20

• 10

• 5

With the 70-20-10 saving rule, what percentage should be planned to be used for your living expenses?

• 70

• 20

• 10

• 5

With the 70-20-10 saving rule, what percentage should be planned to be used for your living expenses?

• 70

• 20

• 10

• 5

With the 70-20-10 saving rule, what percentage should be planned to be used for your living expenses?

• 70

• 20

• 10

• 5

Which is the first recommended step to setting up a budget?

• Monitor your personal finances

• Plan how to spend all your money

• Review your budget

• Modify your budget

Setting up a personal budget will help you reach financial goals.

• True

• False

What is the correct way to figure out your net income?

• Net pay = Gross pay

• Net pay = Gross Pay + Taxes

• Net pay = Gross pay - Deductions

• Net pay = Gross Pay + Deductions