
Budgeting
Quiz by Jennifer Alderfer
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- Q1
What is a budget?
An estimate of income and expenses for a set period of time
The act of living frugally
Total after-tax income in a given pay period
30s - Q2
Why are digital subscriptions for things like movies, music and ebooks considered sneaky expenses?
You can often be charged extra without your consent
The total cost can add up quickly if you’re subscribed to several services at once
Service providers can sign you up and start charging your credit card without you even knowing it
30s - Q3
In the 50/30/20 budgeting system, what’s the ideal percentage breakdown?
50% savings, 30% needs and 20% wants
50% wants, 30% needs and 20% savings
50% needs, 30% wants and 20% savings
30s - Q4
If your spending isn’t matching up with the 50/30/20 guidelines, what should you do?
Reduce your spending
Any combination of the other answers
Modify your percentages
Increase your income
30s - Q5
Budgeting means giving up everything you love and converting to a super-frugal lifestyle
falsetrueTrue or False30s