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Wise Financial Literacy
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Wise Financial Literacy
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Wise Financial LiteracyIn order to get spending under control, a person should first - ANS-create a budget of
current income and expenses.
Comparison shopping for a car is necessary because - ANS-the price for the car can
vary a great deal.
Financial planners generally stress the importance of starting to save and invest early
because - ANS-of the power of compounding and appreciation.
An important feature of a good financial goal is that the goal - ANS-has a specific time
frame.
Purchasing power decreases and it costs more money to buy more good when there is
an - ANS-inflation.
What strategy can help a person achieve her goal to buy a house? - ANS-Following a
budget that allows for saving.
A college student has to live on a tight budget. Before making a decision to buy the
newest cell phone, which question should he ask himself first? - ANS-Is the new cell
phone a need or want.
Which of the following quotes is sound financial advice? - ANS-"A penny saved is a
penny earned."
Fixed expenses include - ANS-rent.
Mandatory deductions from a person's paycheck include - ANS-federal withholding tax
and FICA.
When should a person begin contributing to a retirement plan? - ANS-As young as
possible.
Which of the following is the source of income for most people aged 20-35? -
ANS-Wages/salary
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