How Money Savvy Are You?
1. You are expecting your first paycheck on Friday. You worked 10 hours for $10 per hour, and you hope you will be able to buy a $100 ticket to a Taylor Swift concert. What will your paycheck most closely look like?
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2. Unless you have a lot of high-interest debt to pay, or are born into the Kardashian family, when should you start saving for your retirement?
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3. If Beyoncé wants to invest the money she makes on Lemonade, which of these investments will double her money?
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4. If you forgot to pay your credit card bill of $100 last month, and charged another $50 on it this month, what will your next bill most likely include?
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5. Three of these items are examples of fixed monthly expenses. Which one is NOT an example of a fixed monthly expense?
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6. Three of these things are examples of variable monthly expenses. Which one is NOT?
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7. What does it mean to “pay yourself first” (PYF)?
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8. The amount of US currency in circulation ($1.6 Trillion) is
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9. What is the difference between a debit card and a credit card?
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10. Which activity would most likely provide the greatest increase your human capital?
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11. If you invest $1,000 at two percent interest compounded annually, how much will you have at the end of 5 years?
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12. Which statement comparing car and student loans is NOT true?
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