Basics Beginner: Budgeting Made Simple

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.
What is one kind of financial need?
Choose wisely. There is only one correct answer.
Groceries. Groceries are one kind of financial need.
2.
What kinds of expenses should you include in a budget?
Choose wisely. There is only one correct answer.
All of your expenses. When you create a budget, you should be as inclusive of your expenses as possible.
3.
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.
Take on a side gig. This is an example of a hard choice that may be unavoidable.
4.
A major purchase is a _______ expense.
Choose wisely. There is only one correct answer.
Variable. It is variable because you don't normally buy it on a regular basis.
5.
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. Budgets can be easily revised by adding and subtracting expenses or income and adjusting amounts associated with specific income and expenses.