Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

Dining out at local restaurants

Postponing a purchase for a big-screen TV

If you are trying to substantially reduce the amount you spend on food, you should try...

Cooking your own food at home for as many meals as possible

Dining at restaurants more often so you don't waste water doing dishes

Eating more snacks on the go and way fewer meals at home

Drinking more coffee and soda so you are not as hungry for food

Using the image of the blank check, what goes on the line that is labeled with the number 4?

the amount of the check written in word form

who you are writing the check to

what you are using the check for

Using the image of the blank check, what goes on the line that is labeled with the number 5?

the amount of the check written in word form

who you are writing the check to

what you are using the check for

What is the difference between gross income and net income

gross income is before taxes and deductions and net income is after

net income is before taxes and deductions and gross income is after

gross income is per month and net income is biweekly

net income is per month and gross income is biweekly

Leila just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now?

Average cost of Uber, Lyft, or taxi fare

Food and grocery store options in the area

Greg is trying to decide whether he needs a car when he moves to the city. Which of the following would be a reason for Greg to get a car rather than use public transportation?

Using public transportation, Greg’s commute to work one-way is two hours

There are several public transportation routes between Greg's apartment and work

The cost of public transportation is less than Greg’s monthly car payment

Greg’s company covers half the cost of his monthly public transportation pass

Isaiah has a summer internship at a technology company and is paid $3,000. After Federal and state taxes, Social Security, and Medicare are deducted, his take-home pay is $2,500. Which of the statements below is correct?

His gross pay is $3,000 and net pay is $2,500

His gross pay is $2,500 and net pay is $3,000

His gross and net pay are $3,000

His gross and net pay are $2,500

You are putting together your first post-graduation budget. Your net pay is $2,500 per month and you estimate that your monthly expenses will be $2,625. Which of the following is TRUE?

You need to either cut back on your spending or find an additional source of income to balance your budget

You have an extra $125 each month that you can spend on a fun or leisure activity

You can invest a portion of your monthly income into a retirement fund, as your expenses are well within your budget

You have room in your budget to make philanthropic donations to your favorite charity

All of the following are good budgeting strategies if you want to save money at the grocery store EXCEPT:

Focusing only on the price when comparing similar products

Focusing on unit price when comparing similar products

Building a weekly meal plan around items you already own or items that are on sale that week, rather than just choosing foods you'd like to eat

Preparing a grocery list before you go to the store and avoiding buying items that aren’t on the list

Which description is most accurate for a Zero-Based Budget?

You put every dollar of your net pay into a budget category each month

You spend your checking account balance down to $0 every month

You spend your saving account balance down to $0 every month

You pay every one of your debts down to $0 every month

For two months in a row, Aaron realizes he has gone over budget by roughly $175. Which of these options makes the most sense for him to fix his problem?

Cancel one of his streaming video subscriptions and go out to dinner three fewer times each month with friends

Start paying just the minimum monthly payment on his student loan and credit card debt, instead of the extra he's been contributing

Contribute $100 less to savings each month and $75 less to his retirement fund

Sell his current car and get a less expensive vehicle

You overhear your cousin talking about the importance of creating and sticking to a budget. All of the following are good reasons to create and stick to a budget EXCEPT:

Having a budget is a requirement for obtaining a mortgage

A budget can help you identify any bad spending habits

Using a budget can allow you to work towards your financial goals

Having a budget can help you create an emergency fund

What action corresponds to the advice "Pay yourself first?"

Set aside a fraction of your paycheck into a savings account before you start spending

Wait until the end of the month to determine how much you have leftover to save

Spend your regular paycheck on needs and wants but funnel any extra money into saving

Become self-employed so you're paying yourself instead of being paid by an employer

Now that Sanjana is done with college, she is trying to decide whether or not she should buy a new laptop for herself. She has made a preliminary list of questions she can ask herself to determine if the new laptop is a need or a want. Which of the following questions would you ELIMINATE from this list?

What model laptop is trendy right now with people my age?

Can I afford this laptop right now?

Is this the right time to buy this laptop or will it likely be on sale later?

How am I going to pay for this laptop? If I have to charge it or take out a loan, can I afford the monthly payments?

Which of the following accurately describes the envelope budgeting strategy?

Putting cash for different spending categories into separate envelopes and only spending what's in each envelope

Regularly buying investments like stocks or bonds with a certain amount of money each month

Saving a small part of your income every week to buy something big at the end of the year

Keeping a written record of all of the money you receive and spend in a notebook to see where your money goes

Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

Dining out at local restaurants

Postponing a purchase for a big-screen TV

If you are trying to substantially reduce the amount you spend on food, you should try...

Cooking your own food at home for as many meals as possible

Dining at restaurants more often so you don't waste water doing dishes

Eating more snacks on the go and way fewer meals at home

Drinking more coffee and soda so you are not as hungry for food

Leila just graduated from college and is comparing a few different cities to move to. Which of these factors is the LEAST important thing for her to consider right now?

Average cost of Uber, Lyft, or taxi fare

Food and grocery store options in the area

Greg is trying to decide whether he needs a car when he moves to the city. Which of the following would be a reason for Greg to get a car rather than use public transportation?

Using public transportation, Greg’s commute to work one-way is two hours

The cost of public transportation is less than Greg’s monthly car payment

Greg’s company covers half the cost of his monthly public transportation pass

There are several public transportation routes between Greg's apartment and work

You are putting together your first post-graduation budget. Your net pay is $2,500 per month and you estimate that your monthly expenses will be $2,625. Which of the following is TRUE?

You need to either cut back on your spending or find an additional source of income to balance your budget

You have an extra $125 each month that you can spend on a fun or leisure activity

You can invest a portion of your monthly income into a retirement fund, as your expenses are well within your budget

You have room in your budget to make donations to your favorite charity

Personal Finance Final Exam

•

66 Qs

Similar activities

Nostradamus 0, Nostalgia 1

KG - University

•

63 Qs

Chapter 6 Manicuring

Professional Development

•

66 Qs

Physical Science: 1st Semester Test Review_2024-25

9th Grade - University

•

66 Qs

English Grade 2_2nd Quarter Reviewer

KG - University

•

64 Qs

Final Test Study Guide

KG - University

•

61 Qs

U.S. Government Final Exam Review

KG - University

•

63 Qs

Personal Finance FINAL Spring 25 (F23)

KG - University

•

70 Qs

Med Term - Q1 Exam (Ch. 1, 2, 3)

9th - 12th Grade

•

68 Qs

Personal Finance Final Exam

Quiz

•

others

•

Practice Problem

•

Easy

GINA LEE

Used 1+ times

FREE Resource

income...expenses

expenses...income

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

63 questions

United States Constitution Test (Sections 1, 2, & 3)

Quiz

•

KG - University

67 questions

Illinois State Constitution

Quiz

•

KG - University

64 questions

Unit 3.1 Test

Quiz

•

11th Grade

71 questions

AOS_ACT2_INDIVIDUAL_2025

Quiz

•

KG - University

65 questions

Physical Science Semester 1 Final Exam

Quiz

•

KG - University

65 questions

7th Grade Spring Semester Test

Quiz

•

KG - University

66 questions

Combo: Jesus' Message

Quiz

•

KG - University

62 questions

8th Grade Bible Midterm Kyle

Quiz

•

KG - University

Popular Resources on Wayground

10 questions

Honoring the Significance of Veterans Day

Interactive video

•

6th - 10th Grade

9 questions

FOREST Community of Caring

Lesson

•

1st - 5th Grade

10 questions

Exploring Veterans Day: Facts and Celebrations for Kids

Interactive video

•

6th - 10th Grade

19 questions

Veterans Day

Quiz

•

5th Grade

14 questions

General Technology Use Quiz

Quiz

•

8th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

15 questions

Circuits, Light Energy, and Forces

Quiz

•

5th Grade

19 questions

Thanksgiving Trivia

Quiz

•

6th Grade

Discover more resources for others

10 questions

Honoring the Significance of Veterans Day

Interactive video

•

6th - 10th Grade

9 questions

FOREST Community of Caring

Lesson

•

1st - 5th Grade

10 questions

Exploring Veterans Day: Facts and Celebrations for Kids

Interactive video

•

6th - 10th Grade

19 questions

Veterans Day

Quiz

•

5th Grade

14 questions

General Technology Use Quiz

Quiz

•

8th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

15 questions

Circuits, Light Energy, and Forces

Quiz

•

5th Grade

19 questions

Thanksgiving Trivia

Quiz

•

6th Grade

Personal Finance Final Exam

66 questions

Angie received her first paycheck. She was so excited about getting paid $10 an hour. She worked for 4 hours. Why was her actual check less than $40?

We create a ______________ with our income to force discipline and savings on our spending.

Sara needs to balance her budget so that she does not create a ______________ that causes her to go into debt.

Andrew was looking through his expenses and realized that his income was less than his expenses and that he was in _________________ to the bank.

When Abby realized she was getting paid $25 an hour, she was so excited! She didn't realize that number was her _________________ and not her net pay.

When creating a budget, it is important for one to realize what is really a __ and what is really a .

Krissy got a new position at her job as financial officer. She quickly realized that the companies was way more than their _____, causing them to go into major debt.

Wow! The bank gave me a _________________! It's free money!!! Wait...what is this interest? Why is it costing me more money than I need? I have to pay this back!!!????

The _______________ card company gave me a limit of $1000 because they do not believe I have the capability to pay them back for more money.

Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for others

Personal Finance Final Exam

66 questions

Angie received her first paycheck. She was so excited about getting paid $10 an hour. She worked for 4 hours. Why was her actual check less than $40?

We create a ______________ with our income to force discipline and savings on our spending.

Sara needs to balance her budget so that she does not create a ______________ that causes her to go into debt.

Andrew was looking through his expenses and realized that his income was less than his expenses and that he was in _________________ to the bank.

When Abby realized she was getting paid $25 an hour, she was so excited! She didn't realize that number was her _________________ and not her net pay.

When creating a budget, it is important for one to realize what is really a ________________ and what is really a ______________.

Krissy got a new position at her job as financial officer. She quickly realized that the companies ____________ was way more than their _________________, causing them to go into major debt.

Wow! The bank gave me a _________________! It's free money!!! Wait...what is this interest? Why is it costing me more money than I need? I have to pay this back!!!????

The _______________ card company gave me a limit of $1000 because they do not believe I have the capability to pay them back for more money.

Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for others

When creating a budget, it is important for one to realize what is really a __ and what is really a .

Krissy got a new position at her job as financial officer. She quickly realized that the companies was way more than their _____, causing them to go into major debt.