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7th -
8thgrade
Everfi - Module 3/4 - Budgeting/Consumer Skills
23 questions
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- 1. Multiple Choice
Which is NOT a benefit of using a budget?
A budget can help you keep track of your money
A budget can help you make plans to reach your financial goals
A budget can help you purchase anything you want
A budget can help you decide the importance of your expenses
- 2. Multiple Choice
Which of the following should NOT be considered when setting a current budget?
Your financial goals
Future income
Needs & wants
Savings
- 3. Multiple Choice
_____ are good places to look to find your current expenses when building your budget.
Credit unions
Online research websites
Bank & credit statements
Your wallet
- 4. Multiple Choice
In addition to needs, what should you plan for first when creating a budget?
Possible charitable donations
Shopping money
Investments
Recurring expenses
- 5. Multiple Choice
Bank statements, credit statements, and records of cash expenses help you estimate your _____.
Credit score
Emergency fund needs
Expenses
Available investments
- 6. Multiple Choice
Which of the choices best describes the purpose of an emergency fund?
prepares you for unexpected expenses
keeps you from borrowing money
removes the worry about expenses not in your budget
To pay for fun trips or concerts
- 7. Multiple Choice
Charitable donations, entertainment expenses, and financial goals are all examples of...
activities that contribute to overspending
things that are considered needs
activities that are necessary for a healthy lifestyle
things to consider when creating a budget
- 8. Multiple Choice
How can you ensure you don't go over your budget?
Round up your expense estimates to add a buffer
Use most of your budget for entertainment expenses
Find a friend that enjoys going shopping
Buy all of your wants at one time
- 9. Multiple Choice
Which housing option gives you more freedom and more responsibility?
Leasing a house.
Borrowing a house.
Buying a house.
Housesitting
- 10. Multiple Choice
Which fact supports the idea that renting is a good option for living in a place for a short period of time?
Renting requires a large down payment
Leases are generally for a month or a year.
Landlords take care of most maintenance
Mortgages are usually for 15 or 30 years.
- 11. Multiple Choice
Which of the following is NOT a useful strategy when making an informed purchase?
Calculate the unit price of the product.
Purchase a product based on a social media influencer.
Read the online reviews of the product and ask trusted friends who use it.
Compare your option to similar products.
- 12. Multiple Choice
When making a large purchase, you should avoid everything EXCEPT _______________________
excessive fees.
being forced to buy additional warranties
add-ons that seem too good to be true.
a price that fits comfortably in your budget.
- 13. Multiple Choice
When you are deciding what to buy you should...
pick the cheapest item to get the best deal.
pick the most expensive item to get the best quality.
trust influencers to pick the best items for you.
compare the unit price of items similar to the one you want.
- 14. Multiple Choice
What is one of the best ways to get reliable information about a product?
Follow a social media influencer
Look for the advertisements
Search online reviews
Ask someone who has never used it
- 15. Multiple Choice
Which method of payment actually is a form of borrowing money that needs to be paid back later?
Cash
Credit Card
Debit Card
Check
- 16. Multiple Choice
Which payment option can offer additional security like fraud protection?
Cash
Check
Debit Card
Credit Card
- 17. Multiple Choice
Leasing a car may be a better option than buying a car if...
you travel great distances regularly.
you have enough money for a large down payment.
you don't plan on having it for long and don't want to worry about regular maintenance.
you want the extended warranty and maintenance because you plan on having the car for a while.
- 18. Multiple Choice
A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?
The price of each pencil, or the unit price, is actually cheaper in the 12 pack.
The price of each pencil, or the unit price, is actually cheaper in the 24 pack.
The 24 pack comes with a carrying case.
This statement is false. Buying fewer pencils will always be a better deal.
- 19. Multiple Choice
Which of the following is NOT an advantage of owning a car?
Smaller down and monthly payments than leasing a car.
Drive an unlimited number of miles
Flexibility to be able to customize it
Yours to keep and sell when you wish
- 20. Multiple Choice
How did the practice of redlining affect Americans who wanted to buy homes?
It helped people decide what neighborhoods to move to based on how much money they had.
It made homeownership more difficult for people from communities deemed inharmonious.
It allowed most people to inherit wealth from the sale of their parents or grandparents's houses.
It led to the mixing of racial groups in city neighborhoods.
- 21. Multiple ChoiceDuring the segregation era in the US realtors, financial lenders, and city governments defined and segregated spaces in urban environments. This practice is known as...RedliningBlockbustingCommercializationGentrification
- 22. Open Ended
How can you protect yourself against falling for financial scams and get rick quick schemes? Name two ways
- 23. Open Ended
Explain how the history of the United States has led to a racial wealth gap?
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