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Personal Finance Midterm Rutgers questions and answers 2025.
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Personal Finance Midterm Rutgers questions and answers 2025.
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Personal FinanceMidterm Rutgers
questions and
answers 2025
need - answer something you must have in order
to live:
a. value
b. want
c. need
d. goal
pay yourself first - answer the act of putting money
into savings on a regular basis before it can be
spent is called:
a. financial planning
b. pay yourself first
c. cash flow
d. income maximization
,budget - answer a plan for spending and saving
money:
a. budget
b. value
c. dream
d. want
food - answer an example of a flexible expense in a
budget is:
a. car loan payment
b. food
c. insurance premium
d. rent
disposable income - answer the amount of income
left in someone's paycheck after taxes and other
deductions is:
a. discretionatory income
b. adjusted gross income
c. taxable income
d. disposable income
food eaten out - answer which of the following is
not a basic financial need?
, a. food
b. transportation to and from work
c. food eaten out at a restaurant
d. a place to live
savings - answer in order to reach your financial
goals, you must include __________ in your budget:
a. food
b. rent
c. savings
d. values
charges a fee - answer which is not an advantage
of having a bank account?
a. provides a safe place to put depositors' money
b. charges a fee, called interest, to put money in
an account
c. provides gov insurance on depositors' money in
case a bank fails
d. depositors can have their paycheck deposited
directly into account
credit unions are owned by their members - answer
the main difference between a bank and credit
union is that
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