Tips and Tools For Financial Success - Newton Free Library

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Budgeting Quiz 1. How long should you keep your tax records? a. 2 years b. 3 years c. 5 years d. 10 years 2. Which of the following would be considered a fixed expense? a. Rent b. Vacation c. Electricity d. Gasoline 3. Social Security covers all of the following except: a. Survivors b. Taxes c. Medicare d. Disability 4. Which of the following may be used as a budgeting tool? a. Budget Box System b. Monthly payment calendar c. Monthly payment schedule d. All of the above 5. Another name for a personal spending plan is: a. Flexible Expenses b. Net Income c. Daily Spending Diary d. Budget 6. Which of the following is not a source of income? a. Alimony b. Dividends c. Student loan d. Public assistance 7. Gross income is: a. Income after deductions b. Income plus expenses c. Income after security and taxes d. Income without deductions 55
8. Which loans should you pay off first? a. The loans you have the longest b. The loans with the highest balance c. The loans with the highest interest rate d. The loans from local banks 9. Which of the following is not a tax credit? a. Education b. Retirement savings contributions c. Child and dependent care d. Credit card interest 10. To prepare a budget you should: a. Determine income and expenses b. Find ways to decrease spending and increase income c. Track daily spending d. All of the above 56
Page 1 and 2:
Financial Literacy at the Library T
Page 3 and 4:
Background and Acknowledgments Fina
Page 5 and 6: Chapter V. Credit Overview of Credi
Page 7 and 8: 6 Newton Free Library hosted Financ
Page 9 and 10: 8 © 2011 American Consumer Credit
Page 11 and 12: Goal Setting & Financial Planning (
Page 13 and 14: Financial Goals Worksheet (SMART)
Page 15 and 16: Planning For Unexpected Life Events
Page 17 and 18: 1. Determine what to keep at home a
Page 19 and 20: 5. Keep a close watch on your bank
Page 21 and 22: 20 Kip Child, FDIC Community Affair
Page 23 and 24: Introduction to Banks (from FDIC Mo
Page 25 and 26: 24 Debit Cards • Fees? • Fee wa
Page 27 and 28: Ways to Take Money Out of Your Acco
Page 29 and 30: Using Electronic Banking (from FDIC
Page 31 and 32: Activity 1: Checking Account Fees (
Page 33 and 34: Activity 3: Record Transactions in
Page 35 and 36: Sample Check Register Check Number
Page 37: Paper Money Copy, cut, and put the
Page 40 and 41: III. Budgeting Practice Good Habits
Page 42 and 43: Create a Budget—and Pay Yourself
Page 44 and 45: Household Budgeting Worksheet Housi
Page 46 and 47: Read the scenario, review the Month
Page 48 and 49: Increase Your Income How might how
Page 50 and 51: Develop a Spending Plan A spending
Page 52 and 53: Implement Your Plan Seek Assistance
Page 54 and 55: • Educate yourself and learn more
Page 58 and 59: Budgeting Quiz -Answers 1. Correct
Page 60 and 61: IV. Saving and Investing Preparing
Page 62 and 63: The true magic of compound interest
Page 64 and 65: 9. Pay off high-interest credit car
Page 66 and 67: Risk-Return Relationship Table (FIN
Page 68 and 69: Compounding with Tables (FINRA Inve
Page 70 and 71: Retirement Savings Vehicles (FINRA
Page 72 and 73: In most cases, you roll over a trad
Page 74 and 75: Activity 2: Savings Goals Worksheet
Page 76 and 77: Investing Quiz 1. Which of the foll
Page 78 and 79: Investing Quiz - Answers 1. Correct
Page 80 and 81: Making your First Investments http:
Page 82 and 83: V. Credit Overview of Credit What i
Page 84 and 85: What Is a Credit Report? (from FDIC
Page 86 and 87: How the Credit Report Is Used (from
Page 88 and 89: How to Get Your Free Annual Credit
Page 90 and 91: Credit Cards: What Are They Used Fo
Page 92 and 93: Credit Card Comparison Chart (from
Page 94 and 95: ACCOUNT ACTIVITY Date of Transactio
Page 96 and 97: Activity 1: Maria’s Credit Report
Page 98 and 99: Activity 3: Who Poses the Most Cred
Page 100 and 101: Credit Terms and Definitions Bankru
Page 102 and 103: 8. All of the following appear on y
Page 104 and 105: VI. Borrowing Basics Types of Loans
Page 106 and 107:
Car Loans (from FDIC Money Smart) T
Page 108 and 109:
To Rent or To Own? (from FDIC Money
Page 110 and 111:
Activity 1: Which Loan Is Best? (fr
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Activity 3: How Much Mortgage Can P
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Note: Make sure you compare loan of
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Estimated prepaid amounts for inter
Page 118 and 119:
Borrowing Basics Quiz 1. Which of t
Page 120 and 121:
Answers for Borrowing Basics Quiz 1
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VII. Life Skills Menu Planning Work
Page 124 and 125:
Grocery Shopping Tips 1. Clean out
Page 126 and 127:
Computer Terms and Definitions Comp
Page 128 and 129:
Housing Terms and Definitions Appli
Page 130 and 131:
8. According to the 2010 Consumer E
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VIII. Glossary Glossary (excerpted
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Compounding: Interest paid on money
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Interest: A percentage of your bala
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Stocks: Parts of a company, called
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IX. Recommend Resources Bibliograph
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Careers and Life Skills Bostick, Na
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Heath, Julia A. Personal finance es
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Debt information for teens: tips fo
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Tutor/Teacher Cordell, Jane. Cambri
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Newton Free Library Financial Educa
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I. Learning English Online Resource
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Investor Knowledge Quiz - http://ww
Page 156 and 157:
American Consumer Credit Counseling
Page 158 and 159:
Nationwide Resources (from American
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This publication is made possible b
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