Home > Planning > Beginner
Planning Beginner: Lifestyle Planning

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Which of the following is not an expense associated with raising a family?
Choose wisely. There is only one correct answer.
All of the above are expenses associated with raising a family. Children are expensive and require increased expenses for housing, medical, food, clothing, and all other costs in a budget.
2.
"Keeping up with the Joneses" refers to _______.
Choose wisely. There is only one correct answer.
Achieving someone else's goals. Keeping up with the Joneses refers to trying to achieve someone else's goals rather than your own.
3.
Which of the following would be a "lifestyle planning" goal?
Choose wisely. There is only one correct answer.
All of the above are lifestyle goals. The types of things people typically save money for haven't changed, but the way they look at them has.
4.
When choosing housing on a budget, all are important considerations except _______.
Choose wisely. There is only one correct answer.
Prestige. While prestige might be important for social reasons (keeping up with the Joneses), it is less important for budgetary concerns.
5.
In order for your personal financial plan to succeed, your life goals _______.
Choose wisely. There is only one correct answer.
Should be allowed some flexibility. A good lifestyle financial plan allows your goals to change and keeps up with them.