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The Key
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The premise for the book (The Key: Wise Money Choices for Teens) is based on a Survey of:
100 teens and their parents
100 high school teens
100 middle, junior and high school students
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What is the safest option to make your money grow?
investing in stocks
investing in your friend’s business
bank savings account/Gov’t savings bonds
all of the above
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The principles of wise finance can often translate into becoming a disciplined person.
True
False
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The US Federal Government always has adequate Gold and Silver to back each coin or paper dollar printed.
True
False
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Each time you receive money from a job or as a gift, you should:
save all of it
give some of it to charity
budget and save some
buy what you want and save what's left
all of the above
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Money is used as a ___ of ____ in our society.
system, reward
form, payment
tool, spending
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In some cultures ____ is used to trade with one another to acquire goods and services.
euro
currency
barter
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The need to earn money drives us to play the lottery.
True
False
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Giving your time, talents, skills or money to charity is a biblical principle.
True
False
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The most common option to get money is:
inheritance
borrowing
working as an employee
owning a business
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Having a ________ is the first lesson in money management.
checking account
budget
job
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Keeping track of your expenditures is a form of
record keeping
discipline
money management
all of the above
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Use of a credit card can lead to
impulse purchases
spending money you do not have
not keeping track of your spending
building your credit history
all of the above
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Which is not a Credit Bureau?
TransUnion
Telefax
Experian
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Which of the following is a good credit score?
300
500
700
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Which of the following will help you get a good credit score?
debit card
pay your bills on time
a credit card
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The best way to help protect yourself from ‘identity theft’ is:
giving your personal information to legitimate, secure websites
travel in groups
carry your social security card around with you
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A good budget is one where monthly expenses exceed monthly income.
True
False
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Which is not a purpose of a savings account?
emergencies
everyday purchases
build for your future
charitable cause
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Which is not true? Saving for a purpose:
is a motivating factor
helps develop self-discipline
helps in the purchase of that "Smart" looking car
purchase school supplies.
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The purpose of a budget is:
prevent impulse spending
keeps expenses in line with income
helps develop a habitual savings plan
all of the above
Spending what one doesn’t have and buying what one doesn’t need are prevalent behaviors in our culture; however, it is an individual’s responsibility to begin to take control of your money now or end up in debt later. One way to become financially responsible and disciplined is to develop a budget and stick to is until is becomes a habit!
agree.
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