E3 - Personal Money Management Question Preview (ID: 47056)


E3 Personal Money Management. TEACHERS: click here for quick copy question ID numbers.

Setting aside money for future use is called?
a) Income
b) Debt
c) Loan
d) Savings

An amount of money loaned to a person that must be paid back along with additional interest is known as...
a) Credit
b) Budget
c) Profit
d) Interest

What is extra money that must be paid back in addition to the money you borrowed?
a) Credit
b) Budget
c) Profit
d) Interest

A plan for spending and saving is also known as....
a) Credit
b) Budget
c) Profit
d) Interest

The part of your budget where money is spent on things that are needed or wanted
a) Income
b) Expenditure
c) Savings
d) IDK

Borrowed money is also known as
a) Income
b) Expenditure
c) Savings
d) Debt

The amount of money a person earns during a year
a) Income
b) Expenditure
c) Savings
d) Debt

_______ is the starting point of personal financial management
a) Income
b) Expenditure
c) Savings
d) Debt

Based on your interests, skills, training and job availability, it is important to choose...
a) a credit card
b) a career path
c) a household budget
d) a bank

All of the following can help increase your earning potential EXCEPT what?
a) Education
b) Skills
c) Experience
d) Reference Letters/Resume

What are the three main parts of a budget?
a) Credit, debt, savings
b) Income, expenditures, savings
c) Expenditures, loans, credit
d) Credit, savings, income

Which of the following is considered risky?
a) Income
b) Expenditures
c) Debt
d) Savings

All of the following are reasons to save money EXCEPT:
a) You might have an expensive purchase you are planning to buy
b) You have zero expenses as an adult and have nothing else to spend your money on
c) You might have an unexpected purchase to make, such as a flat tire or roof that needs repairing
d) One day you would like to retire and still have enough money to pay bills and live comfortably

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