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Personal Finance Courses: Budgeting

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1.
Which of the following is most likely to be a variable expense?
Choose wisely. There is only one correct answer.
Your groceries. In nearly all cases, groceries are likely to vary in price and how often you buy them.
2.
The purpose of a budget is to help you plan how to spend and save money.
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True. Budgets are valuable tools that help you stay on top of your money.
3.
If you have money in your budget left over, what might be the best use for it?
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Put it toward important short and long-term goals. Having money left over (in other words, having savings) means you can put the money toward important goals in life.
4.
Your financial institutions may already offer some budgeting tools.
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True. Many financial institutions provide budgeting software that is accessible when you log in to your account online.
5.
In your budget's savings plan section, you will have short-term goals, intermediate-term goals, and long-term goals to save for. Which of these would an eight-year-long goal fall under?
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Intermediate-term goals. Intermediate-term goals are those that are 5-10 years away.