|Name: _________________________||Period: ___________________|
This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. For Question 3 under what circumstance would one enter a minus sign on the chart?
(a) If the expense category does not fit with values.
(b) If that expense category will most likely be reduced after retirement.
(c) If monthly expenses exceed monthly income.
(d) If the expense category will most likely cease after retirement.
2. What is Question 3?
(a) How might this expenditure change if I did not have to work for a living?
(b) In how many years will I be able to retire?
(c) What are my dreams?
(d) Is income greater than expenses for the month?
3. What is an important aspect of the second half of Step 2?
(a) Not feeling shame or blame.
(b) Tracking net worth.
(c) Saving life energy.
(d) Saving as much money as possible.
4. What makes the difference between a good life and a great life?
(a) A good job or a great job.
(b) Having more leisure time than work time.
(c) Being poor versus being rich.
(d) Contributing money, energy, or time after having enough.
5. What might cause readers to feel guilty, after completing Step 1?
(a) Feeling less successful than their work colleagues.
(b) Spending too much time with family.
(c) Seeing their credit score.
(d) Seeing how much they owe or how little they have earned.
Short Answer Questions
1. What broad category are alcohol and tobacco subcategories of?
2. How is a real hourly wage figured?
3. In Question 1, for each expense, participants must ask if they received fulfillment, satisfaction, and value in proportion to what?
4. For Question 1, what should be written in the chart if just enough was spent on an item?
5. How is net worth determined?
Short Essay Questions
1. How should program participants use the charts at the end of Chapter 3?
2. What is the first part of Step 1? What is its purpose?
3. Why is it beneficial to be specific with categories, rather than more general?
4. What are the three perspectives of money the authors ask program participants to reject? Include brief descriptions.
5. Whenever people spend money, what more valuable commodity are they also spending?
6. How does the protestant work ethic influence the behavior of many Americans?
7. What should program participants do, rather than create a budget?
8. What is the final part of Step 3? How is this accomplished?
9. Where does the "rat race" come from?
10. What perspective of money do the authors endorse? Why?
This section contains 827 words
(approx. 3 pages at 300 words per page)