Your Money or Your Life Test | Mid-Book Test - Hard

Joe Dominguez
This set of Lesson Plans consists of approximately 131 pages of tests, essay questions, lessons, and other teaching materials.
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. In Question 1, for each expense, participants must ask if they received fulfillment, satisfaction, and value in proportion to what?

2. How should people reduce spending?

3. What are bare necessities, as defined in Chapter 1?

4. How often should people total their income and expenses?

5. What are dreams good clues to?

Short Essay Questions

1. For Step 4, what is the third question program participants should ask, regarding every expense on their chart? What does this question prompt people to do?

2. What is the second half of Step 2? What are the most important aspects of this exercise?

3. What should program participants do, rather than create a budget?

4. Why do many people give up on their dreams early in life?

5. What are people's dreams good clues to?

6. What is the second part of Step 1? What attitude should participants try to maintain when they see their result?

7. Why is it beneficial to be specific with categories, rather than more general?

8. How does our consumption hurt the environment?

9. What are some examples of recreational expense categories?

10. What is the final part of Step 3? How is this accomplished?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

As expressed by the authors in Chapter 9, what impact would their financial program have on culture, living conditions, the environment, and the economy, if most people followed it? Describe their predictions in detail, referring also to their descriptions in Chapter 1 of ways in which most Americans' current lifestyle is harmful to our culture, living conditions, the environment, and the economy.

Essay Topic 2

What are the main issues and difficulties encountered by program participants when charting and categorizing expenses? How should program participants strike a balance between having too few categories, which inhibits evaluation and elimination of items, and having too many categories, which creates complication and tedium?

Essay Topic 3

Expand upon the authors' comparison between budgeting and dieting. Why are honest record-keeping and frugality better tools for managing finances than a budget? What terms would parallel record keeping and frugality, in terms of managing food intake?

(see the answer keys)

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