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Social Studies, Mathematics
6th -
7thgrade
Personal Finance (Money Management)
15 questions
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- 1. Multiple Choice
The process of projecting, organizing, monitoring, and controlling future income and expenses is known as ________________.
Budgeting
Investing
Personal Finance
Money Management
- 2. Multiple Choice
Medium of exchange
Coins
Money
Currency
Goods and Services
- 3. Multiple Choice
Helps make decisions about your income; Saving- spending plan.
Budget
Income
Networking
Bank Loan
- 4. Multiple Choice
Giving your time and services to an employer in an exchange for money is what?
Money Management
Spending
Budget
Income
- 5. Multiple Choice
In case of emergency you should have what...
Good Credit
Money Saved
Budget Plan
Credit Card
- 6. Multiple Choice
By investing you are...
Making your money grow
Advancing in the stock market
Adulting
Building your credit
- 7. Multiple Choice
What is interest
Something you like to do
Excessive borrowing
A fee paid for the use of someone else's money
used to buy something now and pay it for later
- 8. Multiple Choice
When you buy something using this method you have to pay it back. Sometimes it requires interest. What is this?
Borrowing
Income
Investing
Credit
- 9. Multiple Choice
All of the following choices are examples of investments except ...
Taxes
Stocks and Bonds
Real estate
Businesses
- 10. Multiple Choice
By investing you should ____ more money than you ____ in due to interest.
put, get
get, put
get, save
get, borrow
- 11. Multiple Choice
When purchasing a new house you would use what method of payment?
Cash
Credit Card
Bank Loan
Debit Card
- 12. Multiple Choice
When purchasing a video game you would use what method of payment?
Cash
Credit Card
Bank Loan
Coins
- 13. Multiple Choice
When purchasing a pack of gum you would use what method of payment?
Bank Loan
Debit Card
Credit Card
Coins
- 14. Multiple Choice
Analyze the following personal finance scenario.
Sally has been working for the federal government since November of 2018. Her monthly income is $2,000. Every month she has saved $500. The government shutdown went into affect in January 2019. Sally was not paid for that month. What problems will Sally face in January do to her having no monthly income?
Based on what you have learned so far, select the BEST answer choice(s) that will apply to Sally's personal finance situation.
Sally has not saved enough money between November and December in order to replace her monthly income.
Sally has spent to much money on entertainment and she is now broke and can't afford to live.
Because Sally has underestimated how much she should save per month for emergencies
Sally will just need to sacrifice some of her expenses and way out her needs and wants
- 15. Multiple Choice
What is the difference between a debit card and a credit card?
A debit card takes money immediately from a bank account. With a credit card you pay later. (plus interest)
A credit card takes money immediately from a bank account. With a debit card you pay later.
A credit card takes money immediately from your savings fund. With a debit card you are charged interest.
A debit card takes money immediately from your savings fund. With a debit card you are charged interest. (plus interest)
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