unit 3: Quiz- Budget

Spreadsheet software can be used to ________.

Create a budget

Online banking tools allow you to __________.

Pay bills from your computer Transfer money from one account to another View checking account transactions

Randy would like to set up a budget for a vacation he is taking next year. Which money management tool should Randy use?

Spreadsheet

The purpose of a budget is to track your income and your spending.

true

Ashely went to the mall and bought a new pair of jeans that caught her eye. This caused her to go over her credit card limit and now she owes a fee. What tip could have helped Ashley?

Avoid impulse purchases

Tips for spending wisely include the following, except ________.

Borrowing money from your friends

Taylor wants to generate a graph to show how she is doing at saving. What tool should she use?

Budget software

Jeff cannot find any of his receipts for entering into his budget. In addition, he cannot find any of his bank statements. What should Jeff do?

Get organized by purchasing some file folders and filing his paperwork.

Who did not spend money wisely?

Lauren buys a cheap pair of headphones. They break, and she needs to buy a new pair.

A fixed expense is a _________.

cost that stays the same from month to month

A good financial plan does not include an insurance plan.

false

A net worth statement, financial goals, and a budget are all part of a _________.

financial plan