30 points,What is the best example of controlling a fixed variable cost?
setting a thermostat
using a fireplace instead of an electric heater
determining when “off-peak” hours at the electric company are and only doing your laundry during that time
all of the above
What is an example of a fixed variable cost?
gym membership dues
car payment
rent
utility bill
What is the best definition of a fixed variable cost?
expense that you must pay each month but the amount can differ
an expense that is optional, but the amount changes each month
an expense that is optional, but the amount stays the same each month
expense that you must pay and is the same amount each month
When is the best time to go to the grocery store so you can spend the least amount of money?
on a full stomach
on a day where there are lots of sales
both on a full stomach and when there are a lot of sales
none of the above
What should be considered a fixed payment in your budget?
gas prices
medical bills
student loans
emergency car repairs
What is the best way to control expenses?
putting all purchases on a credit card
setting and sticking to a budget
buying things that you really like
not buying items on sale
Which option is the best example of a financial emergency?
Sally just has to have the newest video game system.
Sally buys a new dress for her cousin’s wedding.
Sally has to have emergency surgery and will need to pay extra hospital fees.
Sally really wants to see a new movie the day it comes out and she isn’t sure if she has enough money in her bank account to pay for it.
Item 8
Which option can be considered NOT preparing for a financial emergency?
living in a modest house
creating a budget
trying to pay down credit card debt
carrying high balances on credit card
Item 9
Which option is NOT an example of a financial emergency?
buying a gift for your best friend’s birthday
car repair
medical bill from the emergency room
losing your job
Item 10
Larry and his wife are planning to take a vacation.
Which payment option would you recommend?
pay cash for their vacation
put the vacation on their credit card but pay the bill in full each month
use a debit card for their vacation
all of the above
