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.
When creating a budget, you should gather information associated with _______ of your expenses.
Choose wisely. There is only one correct answer.
All. When creating a budget, its important to gather information associated with all of your expenses.
3.
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.
4.
If you have irregular income, sticking to a budget is impossible.
Choose wisely. There is only one correct answer.
False. If you have irregular income, it is very possible to stick to a budget
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.