Deck 23: Focus on Financial Health

Question 1

Nearly __________ of students are concerned about their ability to pay for their education.

A)56%
B)60%
C)66%
D)70%

Answer 1

C

Question 2

When most people get a raise they end up ___________.

A)saving the extra money
B)rewarding themselves
C)donating the first paycheque
D)investing the money

Answer 2

B

Question 3

If you feel guilty about your discretionary purchases you may suffer from _____________.

A)a guilty conscience
B)bipolar disorder
C)gambling addiction
D)a loss of control

Answer 3

D

Question 4

One definition of financial wellness states it is "a way in which to measure the overall financial aspect of an individual that includes the amount of assets they own and how much income ________"

A)they can save in the course of one year
B)they must pay out to cover regular and other expenses
C)they get deducted in income taxes
D)is allocated to pay for their mortgage

Question 5

After you record your spending for a month you should _____________.

A)Continue spending as you have been
B)Reflect and excuse certain purchases because you really needed them
C)Reflect and evaluate if you are spending your money in healthy ways
D)Try to get your friends to purchase your next coffee for you

Question 6

The first step to developing a realistic budget is to ______________.

A)track your expenses for one month
B)look for cheaper housing
C)sell your car
D)stop buying organic foods

Question 7

Your financial health will _________________ throughout your life.

A)remain stable
B)decrease
C)increase
D)fluctuate

Question 8

Your daily spend refers to ____________.

A)what you normally spend in a day.
B)your paycheque divided up over thirty days
C)what you allocate you are able to spend each day
D)your paycheque minus your expenses divided up over thirty days

Question 9

Lily just received her student loan.The first thing she should do is ___________.

A)buy herself a vehicle
B)take her boyfriend out to a nice dinner
C)put it in the bank and forget about it
D)subtract the necessities from the full amount and then divide the extra over eight months

Question 10

Jolene enjoys her daily iced coffee from her local barista.The end of the semester is coming up and she is running out of student loan money yet she continues to purchase them.What type of personality does Jolene have?

A)outgoing
B)introvert
C)selfless
D)addictive

Question 11

Alexei enjoys music and he purchases many downloadable songs for his playlist.He spends approximately $10/day on these songs.He has tried to stop is having a difficult time doing so.Alexei is most likely experiencing __________.

A)a loss of perspective
B)anxiety
C)a loss of control
D)financial unrest

Question 12

Suki is an international student and,as such,is unable to work in Canada unless he gets a job on campus.His family supplied him with some spending money but it is quickly running out.Suki is starting to feel symptoms of ____________.

A)financial illness
B)financial unrest
C)extreme stress
D)reflexive calm

Question 13

____________________ can lead to extensive stress in students that can negatively affect their physical and mental health.

A)Financial debt
B)Poor grades
C)Interpersonal issues
D)Parental expectations

Question 14

A discretionary purchase is one that __________.

A)is a necessity
B)is frivolous
C)you weight the pros and cons of making
D)someone else makes on your behalf

Question 15

Final exams are over and Alex is looking for a summer job to help him pay for school next year.However,since the economic downturn,he is finding it hard to find a job because _________.

A)he is looking for a relatively high-paying job
B)he is competing with a lot of other people who have lost their jobs
C)he is too qualified to do manual labour
D)he can't fit work into his busy social calendar.

Question 16

If you owe money,it is important to _______________ to avoid extra charges.

A)make your payments on time
B)avoid obtaining another credit card
C)make your minimum payment
D)obtain a loan to pay off debts

Question 17

In order to maintain your financial health,you need to know _____________.

A)the amount of money you have
B)the amount of money you owe
C)how much money your family will give you in case of emergency
D)the amount of money you have vs the amount that you owe

Question 18

A(n)_________ personality is one that will seek the thing it is addicted to without regard for personal wellbeing or financial health.

A)approachable
B)gregarious
C)addictive
D)outgoing

Question 19

Julie,who is on antipsychosis medication for her manic episodes,has been getting her finances under control.She is able to do this because she _________.

A)is on long-term disability
B)is now able to work and earn money
C)is no longer spending her money on frivolous items
D)no longer has the misconception that her financial means are greater than they are

Question 20

People who are ________ often overspend.

A)manic
B)depressed
C)schizophrenic
D)anxious

Question 21

What steps can you take to reduce your financial stress?

Question 22

Explain how some mental illnesses,such as being manic,can lead to loss of financial health.

Question 23

Discuss three ways you can deal with stress resulting from your financial situation.