Budgeting quiz

What budgeting tip(s) would help you to stay on track financially? A. Find a friend with similar goals and hold each other accountable B. Put aside fun money in your budget so you're not missing out C. Only use your closest gas station to fill up gas D. All of the above

A. Find a friend with similar goals and hold each other accountable

Charitable donations, entertainment expenses, and financial goals are all examples of... A. things to consider when creating a budget. B. activities that contribute to overspending. C. things that are considered needs. D. activities that are necessary for a healthy lifestyle.

A. things to consider when creating a budget.

Which of the following is NOT a benefit of using a budget? A. A budget can help you make plans to reach your financial goals. B. A budget can help you purchase anything you want. C. A budget can help you decide the importance of your expenses. D. A budget can help you keep track of your money.

B. A budget can help you purchase anything you want.

An emergency fund should NOT be used for... A. repairing your laptop that you use for homework. B. a last minute school trip. C. fixing a blown tire on your car that you use to get to work. D. a sudden health issue that needs care.

B. a last minute school trip.

Where should you look to find your current expenses when building your budget? A. your bank representative B. bank and credit statements C. ask your parents D. your wallet

B. bank and credit statements

Which of the following is NOT true about emergency funds? A. They help you prepare for unexpected expenses. B. They can keep you from borrowing money from friends and family. C. They are used for anything listed on the budget. D. They help remove the worry about expenses not in the budget.

C. They are used for anything listed on the budget.

Which of the following is a way to track your spending? A. Spreadsheet budget B. Envelope method C. An app D. All of the above

D. All of the above

What should be considered when setting a budget? A. Needs and wants B. Savings C. Time management goals D. Needs, wants, and savings

D. Needs, wants, and savings

Which of the following statements is TRUE? A. Recurring expenses don't need to be planned for because they rarely happen. B. Recurring expenses are expenses that can never be stopped. C. Recurring expenses should be planned for after looking at your wants. D. None of the above

D. None of the above

What is NOT true about unexpected expenses? A. They could impact your budget in a negative way. B. They should be planned for so that you can keep within your budget. C. They could interfere with your ability to pay your bills. D. They do not occur if you have a budget.

D. They do not occur if you have a budget.