Day 41 - Review for Unit Test

      Win in the Margins with extra income:

•      Lemonade Stand
•      Crafts Fair
•      Recycling
•      Baby Sitting
•      Swagbucks
•      tinyurl.com/uberbonuscode

     Unit Test Review

• Use the review questions below to study for your unit 2 test.

Projects

• Work on Budget Challenge, following these instructions pick up where you left off.
• Take Surveys/Quizzes, 
• Update Budget Challenge Spreadsheet & 
• Schedule Payment of Bills
• EverFi
• Consumer Protection (2/5/16)
• Investing (2/19/16)
• Saving (3/4/16)
• Banking (3/18/16)
• Payment Types (4/8/16)
• Credit Scores (4/15/16)
• Higher Education (4/22/16)
• Renting vs. Owning (4/29/16)
• Insurance and Taxes (5/6/16)

     1)     What does “If you aim at nothing, you’ll hit it every time” mean?

2)     What are  the 5 foundations of saving?

3)     How much should a teenager keep in an emergency fund?

4)     How much should an adult have in an emergency fund?

5)     Where should you keep your emergency fund?

6)     What are the key components of wealth building?

7)     As discussed in class, what percentage of families are likely to face a major financial situation within any 10-year period?

8)     Which phrase did Dave Ramsey use to describe spending small amounts of money repeatedly over time without giving it much thought?
9)     “If something can go wrong, it will go wrong” is an example of:

10)   Which phrase represents a person figuring out how much they need for a future purchase and putting away a set amount each week until they have enough to pay for the item?

11)   When it comes to shopping, how does having money equal having power? 

12)   What is it called when your interest makes interest?

13)   Which of David Bach’s books did your teacher suggest you read that will help you learn how to save?

14)   What are the consequences of overdrawing your checking account?

15)   For which category should you save for first?

16)      Approximately, how much money could you have if you didn’t smoke or drink expensive coffee throughout your lifetime and instead invest that cash in the stock market at a 12% annual rate of return?

17)   The total value of goods produced and services provided in a country during one year is called:

18)   How is price related to the quantity of supply and demand?

19)   What occurs when money is withdrawn from a bank account and the available balance goes below zero?

20)   To match your bank statement with your checkbook is called a:

21)   What is the secret to building wealth?

22)   What does "Pay yourself first mean"?

23)   What typically the largest spending category for most Americans?

24)   When should a budget be prepared?
25)   What is the primary purpose of preparing a budget?
26)   How often should a budget be reviewed?

27)   What should you budget for first?

28)   What are some examples of fixed, non-discretionary expenses?

29)   What are some examples of discretionary expenses for most Americans?

30)   What is a zero-based budget.

31)   What does ODP stand for?

32)   Which type of bank account is themost liquid.

33)   List examples of  normal cash flows for the typical American?