Economics Foolproof Module 8 Questions & Answers | Questions with 100% Correct Answers | Updated & Verified

Which statement is true? - - It doesn't do much good to have a savings plan if you don't know how to budget your money. - Having a savings plan & a budget won't do much good if you don't know how to spend money wisely. In this module, we say a "good" money burn means you have spent money wisely. A "bad" money burn means you have spent money you did not need to spend. Tell us which answer shows the best "good" money burn. - You shop around & buy a pair of the exact same designer jeans at a thrift shop, & they cost virtually nothing. By not negotiating the price of your first car purchase, you have a $1,000 "bad" money burn. How long would it take you to earn back the thousand dollars you just threw away of you take home $10.00 per hour? - 100 hours Which of the answers below show bad money burns? - Numbers 2, 3, 4, & 6 We talk about "doing your homework" before spending any money. You are getting ready to buy your first car. Select all the actions that show you are doing your homework properly. - Numbers 1, 4, & 6 T/F: According to Foolproof & many consumer groups, if you are from a family with poor money skills, chances are you will have poor money skills as well. Now's the time to take control of your spending habits! - True