Personal Finance Quiz

Banks got into the credit business before 1920 because charging exceptionally high interest rates was legal?

• True

• False

You should always make sure you have a ____________.

To gain an understanding of your personal finances, you should know ____________.

What is The First Foundation?

Being a spender has many more positives than being a saver.

• True

• False

Personal finance is all the financial decisions a(n) ________________ must make in order to earn, budget, save, spend, and give money over time.

Avoiding debt can lead to financial freedom and hope.

• True

• False

To know your net worth, subtract your liabilities from your ________.

• Other liabilities

• Net income

• Previous

• Assets

What is financial literacy?

• The content provided in bank statements for consumers

• The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively

• The curriculum provided to college students about finances for their degrees

• The skills to read financial documents for personal finance classes, goals, and statements

Savers have a tendency to be . . .

• Strict with their purchases but spend money without a plan

• Strict with only purchases for themselves

• Strict with what they spend their money on, other than groceries

• Strict with their money and not spend any of it