Understanding Personal Finance Basics 51abcd

Understanding Personal Finance Basics 51abcd

8th Grade

20 Qs

quiz-placeholder

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Understanding Personal Finance Basics 51abcd

Understanding Personal Finance Basics 51abcd

Assessment

Quiz

Social Studies

8th Grade

Hard

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the starting point for personal financial management?

Savings

Income

Debt

Investments

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a basic reason for creating a household budget?

To increase debt

To manage income and expenses

To avoid paying taxes

To spend more money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one benefit of saving money?

It increases your debt

It provides financial security

It reduces your income

It eliminates the need for a budget

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a risk associated with using debt?

Earning interest

Owing more money than you can repay

Increasing savings

Receiving a salary

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A household budget helps you to:

Spend without limits

Track and control your spending

Avoid saving money

Increase your debts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term describes money received from work, investments, or other sources?

Debt

Income

Budget

Expense

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might someone create a household budget?

To ignore their financial situation

To plan for future expenses and savings

To increase their debt

To avoid tracking spending

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