Successful Beginnings Course Quiz

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* 1. Contact Information

First & Last Name

Email Address

Phone Number

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* 2. What statement is TRUE about being financially well?

It’s all about the numbers

It’s all about how you feel

It’s about the numbers and how you feel

It’s not about the numbers or how you feel

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* 3. Using the definition outlined in the course, what is NOT an element of financial wellness?

Having the ability to handle unexpected expenses

Having the ability to enjoy day to day life

Having the ability to own a home

Having the ability to make progress towards goals

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* 4. How can expenses be unexpected, as outlined in the course? (Choose two)

Payee – who will I need to pay?

Timing – when will this happen?

Seasonally – what season will they occur?

Amount – how much will this cost?

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* 5. What is the best way to prepare for an unexpected expense?

Save a little bit each month to prepare in case the expense happens

Charge the unexpected expense to a credit card and pay it back when you have the money

Track every dollar you make and hope that nothing unexpected happens

Plan on using bonus money when you get it, like from a tax return or gift

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* 6. What is one way to make steady progress towards your goals, as outlined in the course?

Save as much money as you can each month

Create an action plan and update it regularly

Consolidate your debt into a personal loan

Brainstorm ideas by making a word cloud

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* 7. Which of these people are demonstrating the ability to enjoy day to day life relating to their financial wellness?

Donna, who is constantly worried about money

John, who knows that a big expense is coming, but ignores it

Kerry, who recognizes that she is making progress towards her goals and makes adjustments when necessary

Suzy, who tracks her spending fervently, and checks her bank account multiple times per day

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* 8. What are some tools you can use to develop financial wellness, as outlined in the course?

Savings account, personal loan, financial advisor and tax return

Credit report, debt consolidation, emergency fund and accountant

Mindset, payday advance, investing and piggy bank

Spending plan, savings account, credit report and mindset

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* 9. Which two components do you need to account and plan for in the spending plan?

Expenses

Income

Credit score

Taxes

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* 10. What two things are most important to building a positive credit history?

Pay utilities with a credit card and chargeback those purchases

Open new lines of credit and buy a house

Pay on time and in full each month and limit credit card usage to 30% of limit

Close unused credit cards and replace with personal loan

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* 11. What’s next? Select which steps you would like to take next. (Check all that apply)

Take another class

Work with a counselor (please email homesource@neighborimpact.org to schedule)

Work on my own (I do not want HomeSource to contact me about other offerings at this time)

Other (please specify)