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.
A budget helps you match your _______.
Choose wisely. There is only one correct answer.
Income and expenses. A budget helps you match your income and expenses.
2.
When you budget, you try to match your _______.
Choose wisely. There is only one correct answer.
Income with your expenses. When you budget, you try to match your income with your expenses.
3.
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. Looking at your paystub is one way to gather accurate information about your income to include in a budget.
4.
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.
5.
The first step in financing a major purchase is to ________.
Choose wisely. There is only one correct answer.
Establish a household budget. That way, you can see how and where the planned purchase can be fit into your overall financial picture.