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. People strive to buy and earn more than they need to live at the peak of their fulfillment curve due to which perspective of money?

2. What do the authors suggest that people divide their spending into?

3. What are "gazingus pins?"

4. What do most people claim to value more than money?

5. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?

Short Essay Questions

1. What are some examples of recreational expense categories?

2. What are some of the not-so-obvious expenses related to a person's work?

3. How should program participants use the charts at the end of Chapter 3?

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

5. What is the first part of Step 1? What is its purpose?

6. What is the first part of Step 3?

7. Whenever people spend money, what more valuable commodity are they also spending?

8. What do the two parts of Step 2 allow program participants to track?

9. For Step 4, what is the first question program participants should ask, regarding every expense on their chart? How does the chart answer the question?

10. Why does the result from the first part of Step 2 sometimes prompt participants to seek a lower-paying job?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Discuss the psychological impact of the financial wall chart. Consider the implications involved with displaying the chart where all visitors can see it, the burden of tracking every penny earned or spent, the urgency or lack of urgency created by a five- to seven-year time frame, and emotional responses to acknowledging past spending habits.

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

At what point do the authors ask program participants to invest money in order to earn investment income? How should investment income be tracked? How should it be used to lead to financial security or fulfillment?

(see the answer keys)

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