Question

Which of these are financial goals? Select the two correct answers.(1 point)
Responses

saving for college
saving for college

going shopping during sale season
going shopping during sale season

buying a new computer
buying a new computer

getting a credit card
getting a credit card

making a monthly deposit on your savings account

Answer 1

saving for college and making a monthly deposit on your savings account

Answer 2

In the 50/30/20 rule, what does 50 represent?(1 point)
Responses

50% of income for wants
50% of income for wants

50% of your income for food
50% of your income for food

50% of income for needs
50% of income for needs

50% of income for savings
50% of income for savings

Answer 3

50% of income for needs

Answer 4

Which of the following is a long-term financial goal?(1 point)
Responses

making the monthly payment on a car
making the monthly payment on a car

paying off a loan
paying off a loan

contributing to a retirement account
contributing to a retirement account

paying rent for an apartment

Answer 5

contributing to a retirement account

Answer 6

Which options are spending needs? Select the two correct answers.(1 point)
Responses

lunch brought from home
lunch brought from home

a movie theater ticket
a movie theater ticket

a notebook for your homework
a notebook for your homework

designer shoes
designer shoes

an ice cream cone
an ice cream cone

Answer 7

lunch brought from home and a notebook for your homework

Answer 8

Which of these expenses is a spending want?(1 point)
Responses

a winter coat
a winter coat

shoes
shoes

housing
housing

a new video game

Answer 9

a new video game