Personal Finance Quiz

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save

What is income?

• The amount you spend

• The amount you don't save

• Money taken in

What is this called?

• A Check

• A credit card

• A debit card

• Money Order

paying for something with money that is borrowed and must be paid back, usually with interest

• credit
• income
• resources
• salary

What is an emergency fund?

• A savings account set aside for unexpected situations.

• A way to invest for retirement.

• Something most people don't need, because emergencies are rare.

• An investment account that can grow over time.

What is debt?

• Money you have borrowed and need to pay back

• Money you make from working at a job

• Money you make from the government

• Taxes that you pay when you buy something

Everyone makes choices about how to manage his or her money/income from a job. This is also known as what?

• Personal Finance
• Government
• Civics
• Geography

Having to go to the doctor because you suddenly got sick is an example of

• Planned Spending

• Unplanned Spending

Which is a need?

• Soda

• Starbucks

• Water

• Juice

It's important to spend money on things you need before spending money on things you want.

• True

• False