1. What was some of the first money made from?
paper
banana leaves
shells
metal
What was the name of money in the UK before 1971?
punts, shillings and pence
pounds, shillings and ounces
pounds, shells and pence
pounds, shillings and pence
Notes and coins aren’t the only way that we can buy things. Which one of these isn’t a way to pay?
credit card
standing order
debit card
cash point
Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income?
When some clothes you go on sale.
When the interest on the loan is greater than the interest you get your savings.
When you need to buy a car to get a much better paying job
When you really need a weeks vacation
You take-home pay from your job is less than the total amount you earn. Which of the following best describes what is taken out of your total pay?
Federal income tax. Social Security and Medicare contributions
Federal income tax. Sales tax and Social Security contribution
Social Security and Medicare contributions
Federal income tax. Property tax and Medicare and Social Security contributions
Many people put aside money to take care of unexpected expenses. If John and Jenny have money put aside for emergencies, in which of the following forms would it be the last benefit to them if they needed it right away?
Stocks
savings account
invested in a down payment on a house
checking account
Kelly and Pete just had a baby. They received money as baby gifts and want to put it way for the baby’s education. Which of the following tends to have the highest growth over periods of time as long as 18 years?
U.S. Savings bond
A savings account
A checking account
Stocks
Which of the following best defines your net worth?
How much money you have in your wallet
How much money you have minus how much you owe
The total value of your assets minus you liabilities
How much money is left from your paycheck after you pay your monthly bills.
What percentage of my income should I spend on my monthly mortgage payment?
Whatever the bank says you qualify for
No more than 25 percent of your gross pay or 35 percent of your take-home pay
No more than half of your paycheck
Whatever your are comfortable with
How much should you have in an emergency saving account?
$500-$1,000
3 months of living expenses
6 months of living expenses
An emergency savings account? Isnt that what credit cards are for?
