Financial Literacy for Teens

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10 points

Some habits are bad. Some habits are good. Saving 10% of your income is a good habit.

True

False

0 points

I will follow the FINAL INSTRUCTIONS at the end of this test to get credit for reading this book.

Yes

10 points

According to the author, almost everyone will earn more than ___________ over the course of their lifetime.

$500,000

$100,000,000

$1,000,000

$500,000,000

10 points

Most people who develop and then continue to have bad spending habits are simply ___________.

uneducated

confused

irresponsible children

stubborn

10 points

Most people who are very successful at investing succeed because they make bold investments that help them take giant steps past average people.

True

False

10 points

Advice on earning money: make sure you find a job that ______________.

allows you to moonlight

works with your schedule

you enjoy

pays well regardless of the time involved

10 points

According to the author, what are the four common things you can do with your money?

Save, keep, store, and retain.

Spend, save, give, and invest.

Spend, spend, spend, and save.

Keep, hold, give, and hide.

10 points

Preperation for future wealth is not necessary until your early thirties.

True

False

10 points

How much money would you make if you averaged $40,000 per year if you were n your mid-twenties to your mid-sixties?

1 million

2.2 million

1.6 million

2.6 million

10.

10 points

What does FIRM stand for?

Five Investment Return More

Flexible Interest Rate Mortgage

Frequently In Relax Mode

Fuel Insurance Repairs and Maintenance

11.

10 points

Medical bills account for what percentage of all personal bankruptcies?

35%

20%

15%

40%

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