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.
Budgets can be easily revised by adding and subtracting expenses or income and adjusting amounts associated with specific income and expenses.
Choose wisely. There is only one correct answer.
True
False
True. Budgets can be easily revised by adding and subtracting expenses or income and adjusting amounts associated with specific income and expenses.
2.
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.
3.
Wealthy people don't need budgets.
Choose wisely. There is only one correct answer.
True
False
False. Wealthy people can overspend just as easily as people in other income groups, so they can benefit just as much from a budget.
4.
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.
5.
A major purchase is a _______ expense.
Choose wisely. There is only one correct answer.
Fixed
Variable
Neither
Variable. It is variable because you don't normally buy it on a regular basis.
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DONE