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.
A budget might fail if you include expenses that aren't _______.
Choose wisely. There is only one correct answer.
High enough
Realistic
Sensible
Realistic. A budget might fail if you include expenses that aren't realistic.
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.
A budget helps you match your _______.
Choose wisely. There is only one correct answer.
Debts and assets
Income and expenses
Taxes and paycheck
Income and expenses. A budget helps you match your income and expenses.
4.
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.
5.
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.
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DONE