Answers26-27 Ignite Financial Literacy Personal Finance - EL3403Case Study: Personal Financial Planning
Case Study: Personal Financial Planning Answers
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A
spendingB
savingC
paying2
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What is the first step in the decision-making process?
A
Take action.B
Get information.C
Form a decision.D
Identify the choices.3
What is an advantage of renting a place to live?
A
lower up-front costsB
payments change from month to monthC
low down paymentD
increasing equity over time4
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A
netB
gross5
When planning a budget, the biggest consideration should be the
A
the monthly savings amount.B
the total income available to spend.C
the total housing or rent payments.D
the monthly transportation cost.6
Which of these would require a significant but temporary budget revision?
A
paying a recurring credit card billB
adopting a kitten from a shelterC
replacing a broken dishwasherD
purchasing a newly released movie7
The chart compares transportation options.
A
the up-front costB
the monthly paymentsC
the length of paymentsD
the cost of insurance and gas8
What is the most acceptable and easy way to revise a budget to allow for the purchase of a new couch?
A
Cancel renters' insurance.B
Skip a car payment for a few months.C
Advertise for a roommate to reduce rent.D
Cook dinners at home instead of going out to eat.9
When making a decision about housing, the first step should be
A
visiting different housing locations.B
gathering information on available housing.C
analyzing the availability of housing loans.D
comparing the cost of housing alternatives.10
Marlene has decided to save $3,500 so that she can attend the nearby community college. Which step in the decision process should Marlene take?
A
Take action.B
Gather information.C
Evaluate results.D
Evaluate alternatives.Did you find these answers helpful?
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