Which of the following is considered a need?

Which of the following factors can influence decisions?

A value can be described as:

Marcus set a goal to buy a used car in the next few months. He plans to make a $2,500 down payment and has already saved $1,300. If he can save $150 each month for this goal to buy a car, how long will it take him to save the entire $2,500?

Shaunda wants to buy her grandmother's car to drive back and forth to college next year. Her grandmother agrees to sell Shaunda the car for $1,200 in a year. This is an example of what type of goal?

Lisa will buy two new car tires three months from now before taking a long trip. Each tire costs $75. How much will Lisa need to save each month to reach her goal?

In eight months, Kelly's parents will need to make the final payment for Kelly's braces. Half of the total cost was paid when her braces were put on. The total cost is $3200. How much will Kelly's parents need to save each month to pay off the balance owed?

Mark wants to visit his foreign exchange "brother" who lives in Brazil. He'd like to make the trip 18 months from now, right after graduation. Mark estimates that he will need $3,000 total to pay for transportation, food, and other expenses. He has already saved $300. How much will Mark need to save each month to reach his goal?

Which of the following is NOT a significant step in the 'DECIDE' decision making model?

Any money you receive such as an allowance or paycheck

A predictable amount of money spent to buy something or do something that is the exact same amount every time.

Saving a certain amount of money to be used later for financial goals

Giving up the next best choice when making a decision

Setting aside money to have on hand for unexpected expenses and events

Read the following information about Jeremiah and answer the question: Jeremiah belongs to a youth group that is planning to participate in a nine-day volunteer building project near the end of his senior year. During the experience Jeremiah’s group will work on a building project in a community that is recovering from a disaster. Help him plan to save money to cover the cost of the trip he will take 15 months from now. There is a $900 fee for the project, which covers the cost of food and lodging at the work site. Jeremiah will also need to pay for his transportation to and from the site as well as meals and any lodging along the way. After working through the DECIDE steps, the group decided that traveling by train was the option that best met their decision criteria. They will be able to sleep on the train rather than arrange for lodging along the way. The train fare is $294 per person. Each person is also responsible to carry or pay for his or her own meals during the 20 hours of travel to the site and from the site. Both there and back, the train will leave mid-morning and arrive the next day just after dawn. Jeremiah has already saved $550 for the trip by working odd jobs. He typically earns $100 to $200 each month from helping his neighbors with yard work, painting projects, childcare, and pet-walking services. He recently received birthday gift money totaling $100. QUESTION: NOT INCLUDING meals and snacks how much money will Jeremiah need for the trip?

Read the following information about Jeremiah and answer the question: Jeremiah belongs to a youth group that is planning to participate in a nine-day volunteer building project near the end of his senior year. During the experience Jeremiah’s group will work on a building project in a community that is recovering from a disaster. Help him plan to save money to cover the cost of the trip he will take 15 months from now. There is a $900 fee for the project, which covers the cost of food and lodging at the work site. Jeremiah will also need to pay for his transportation to and from the site as well as meals and any lodging along the way. After working through the DECIDE steps, the group decided that traveling by train was the option that best met their decision criteria. They will be able to sleep on the train rather than arrange for lodging along the way. The train fare is $294 per person. Each person is also responsible to carry or pay for his or her own meals during the 20 hours of travel to the site and from the site. Both there and back, the train will leave mid-morning and arrive the next day just after dawn. Jeremiah has already saved $550 for the trip by working odd jobs. He typically earns $100 to $200 each month from helping his neighbors with yard work, painting projects, childcare, and pet-walking services. He recently received birthday gift money totaling $100. QUESTION: How much money does Jeremiah already have for his trip?

Juan plans to save $2400 to help pay for college. He expects to pay this amount for tuition and books in two years. How much will he need to save each month to reach his goal?

Mark wants to visit his friend who lives in Spain. He'd like to make the trip in 18 months, right after graduation. Mark estimates that he will need $3,000 total, and he already has saved $300. How long will he need to plan to achieve his goal?

In eight months, Kelly's parents will need to make the final payment for Kelly's braces. Half of the total cost was paid when her braces were put on. The total cost is $3200. What type of goal are Kelly's parents setting?

What's it called when you give up something you want in order to get something even better in the future?

The 'R' in SMART goal stands for

The 'M' in SMART goal stands for

The 'T' in SMART goal stands for

The 'S' in SMART goal stands for

The 'A' in SMART goal stands for

Which of the following would be considered a need?

Which of the following is one of the strategies discussed in Module 1 for helping to stay on track with your spending plan?

Which of the following best describes Cash Flow

What are needs?

A spending log is helpful when:

When buying a car, which of the following would probably be the most helpful?

When estimating income it is better to be

Why is it harder to estimate expenses than to estimate income?

Preparing a budget (or spending plan)

If you had more income than expenses for a budget period, you have a(n)

Which of the following would NOT be considered income?

Which of the following is an example of a variable expense?