Preparing & Responding to Changes in Income

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following BEST explains disposable income?

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1. Jim received a raise at work following a significant promotion. Although this seems like great news, what could be a significant risk to prepare for after an increase in income?

2. Which of the following resources might NOT be available to a family experiencing a recent income loss?

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About This Quiz & Worksheet

Changes in your income can have drastic effects. In this combination quiz and worksheet, you will be asked about several aspects of income change, ranging from divorce to disposable income.

Quiz & Worksheet Goals

This quiz and worksheet will present you with questions on the following topics:

  • The disadvantages of one wage earner in a household
  • The number one cause of divorce in the U.S.
  • Debt-to-income ratio
  • Disposable income

Skills Practiced

  • Making connections - understand how to draw a path between earnings and households
  • Knowledge application - apply your knowledge of income changes to questions
  • Information recall - remember what you have learned about debt-to-income ratio

Additional Learning

For more info, head to the lesson titled Preparing & Responding to Changes in Income, where you will be able to accomplish the following tasks after reading the lesson:

  • Give examples of sudden changes in income
  • See the added benefits of a two-income household
  • Learn how illness and death affect income
  • Understand how much should be saved in the event of unemployment
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