Difference between revisions of "AY Honors/Household Budgeting/Answer Key"
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< AY Honors | Household BudgetingAY Honors/Household Budgeting/Answer Key
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| − | ==1. What is a household budget and what is the importance of having one?== | + | ==1. What is a household budget and what is the importance of having one?== <!--T:2--> |
| − | ==2. Make a list of your family's expenses and classify them as necessary, useful and superfluous.== | + | ==2. Make a list of your family's expenses and classify them as necessary, useful and superfluous.== <!--T:3--> |
| − | ==3. Check your family's shopping list for grocery and hygiene products. Are all the items really necessary?== | + | ==3. Check your family's shopping list for grocery and hygiene products. Are all the items really necessary?== <!--T:4--> |
| − | ==4. What is the best day and place to get vegetables, fruits and greens in your neighborhood?== | + | ==4. What is the best day and place to get vegetables, fruits and greens in your neighborhood?== <!--T:5--> |
| − | ==5. What can you and your family do to save on water, electricity and telephone?== | + | ==5. What can you and your family do to save on water, electricity and telephone?== <!--T:6--> |
| − | ==6. What is inflation?== | + | ==6. What is inflation?== <!--T:7--> |
| − | ==7. What taxes does your family have to pay?== | + | ==7. What taxes does your family have to pay?== <!--T:8--> |
| − | ==8. What kind of shopping should never be done with credit? why?== | + | ==8. What kind of shopping should never be done with credit? why?== <!--T:9--> |
| − | ==9. What is interest? How should it be calculated?== | + | ==9. What is interest? How should it be calculated?== <!--T:10--> |
| − | ==10. Investigate what the is interest rate and what are the financial responsibilities in the lines of credit lines for the following:== | + | ==10. Investigate what the is interest rate and what are the financial responsibilities in the lines of credit lines for the following:== <!--T:11--> |
| − | ===a. Credit card=== | + | ===a. Credit card=== <!--T:12--> |
| − | ===b. Overdraft=== | + | ===b. Overdraft=== <!--T:13--> |
| − | ===c. Personal loan=== | + | ===c. Personal loan=== <!--T:14--> |
| − | ==11. What measures should be taken when the family is in debt?== | + | ==11. What measures should be taken when the family is in debt?== <!--T:15--> |
| − | ==12. What percent of the household income should be saved?== | + | ==12. What percent of the household income should be saved?== <!--T:16--> |
| − | ==13. Investigate at least two methods besides a passbook to invest money saved. What are the advantages and disadvantages of each?== | + | ==13. Investigate at least two methods besides a passbook to invest money saved. What are the advantages and disadvantages of each?== <!--T:17--> |
| − | ==14. Do the following:== | + | ==14. Do the following:== <!--T:18--> |
| − | ===a. Write and endorse a check=== | + | ===a. Write and endorse a check=== <!--T:19--> |
| − | ===b. Write a receipt=== | + | ===b. Write a receipt=== <!--T:20--> |
| − | ===c. Pay for tickets and/or an invoice at an ATM=== | + | ===c. Pay for tickets and/or an invoice at an ATM=== <!--T:21--> |
| − | ==15. Keep a personal budget and a log of money coming in and out for six months.== | + | ==15. Keep a personal budget and a log of money coming in and out for six months.== <!--T:22--> |
| − | ==16. Make a family budget and keep an accurate record of inputs and outputs for six months (Pathfinders and youths can do this together with parents); those who live on farms can make records of farming, dairy and livestock.== | + | ==16. Make a family budget and keep an accurate record of inputs and outputs for six months (Pathfinders and youths can do this together with parents); those who live on farms can make records of farming, dairy and livestock.== <!--T:23--> |
| − | ==17. Read Malachi 3:8-12 and write a minimum of 250 words about the meaning of being a faithful steward.== | + | ==17. Read Malachi 3:8-12 and write a minimum of 250 words about the meaning of being a faithful steward.== <!--T:24--> |
| − | ==References== | + | ==References== <!--T:25--> |
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Revision as of 13:34, 4 December 2014
