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Basics Beginner:
Budgeting Made Simple
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Choose wisely. There is only one correct answer to each question.
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1.
A budget helps you match your _______.
Choose wisely. There is only one correct answer.
Debts and assets
Income and expenses
Taxes and paycheck
Income and expenses. A budget helps you match your income and expenses.
2.
When creating a budget, you should gather information associated with _______ of your expenses.
Choose wisely. There is only one correct answer.
All
Some
Certain types
All. When creating a budget, its important to gather information associated with all of your expenses.
3.
If you have irregular income, sticking to a budget is impossible.
Choose wisely. There is only one correct answer.
True
False
False. If you have irregular income, it is very possible to stick to a budget
4.
What kinds of expenses should you include in a budget?
Choose wisely. There is only one correct answer.
Only the expenses you incur regularly
Only the expenses related to housing, food and your car
All of your expenses
All of your expenses. When you create a budget, you should be as inclusive of your expenses as possible.
5.
Budgeting for a major purchase has many advantages; one of them is that _______.
Choose wisely. There is only one correct answer.
You may be able to avoid the use of debt
You will always get a lower price by budgeting
Both of the above
You may be able to avoid the use of debt. Avoiding debt can save you a lot of money, as well as give you time to think over the purchase.
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