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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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Review your answers below to learn more.
1.
What is one kind of financial need?
Choose wisely. There is only one correct answer.
Daily lattes
Groceries
Sports car
Groceries. Groceries are one kind of financial need.
2.
What is one way to gather accurate information about your income to include in a budget?
Choose wisely. There is only one correct answer.
Looking at your paystub
Estimating what you might make next year
Adding in a bonus you hope you'll get later in the year
Looking at your paystub. Looking at your paystub is one way to gather accurate information about your income to include in a budget.
3.
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.
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.
What are some options if despite good faith efforts to make a budget work, you are still getting behind on your bills?
Choose wisely. There is only one correct answer.
Put the extra expenses on a new credit card
Take on a side gig
Give up on budgeting
Take on a side gig. This is an example of a hard choice that may be unavoidable.
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