
Budgeting Assessment
Quiz by Heather Musgrave
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17 questions
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- Q1Anything you spend money on.Impulse BuyingNet IncomeExpensesBudget30s
- Q2A spending plan for your moneyExpensesBudgetImpulse BuyingFinancial Means30s
- Q3The amount of money you earn before they take out any deductionsGross IncomeNet IncomeFinancial MeansBudget30s
- Q4When a person buys on emotion but they do not think about the money.Financial MeansExpensesOverspendingImpulse Buying30s
- Q5The amount of money you have after all the taxes and deductions have been taken out.ExpensesGross IncomeBudgetNet Income30s
- Q6This is an expense that usually changes month to month like groceries.Variable ExpenseFixed ExpenseSpendingImpulse Buying30s
- Q7This is an expense that does NOT change at all or changes very little such as a house payment.ExpensesVariable ExpenseFixed ExpenseBudget30s
- Q8Knowing how much money you bring home and how much money you can afford to spend.BudgetSpendingSavingFinancial Means30s
- Q9What is the main reason that people spend more money than they make and go into debt?They are addicted to shoppingThey don't have a budget for their moneyThey don't earn enough money30s
- Q10A budget is a spending plan for your money that includes the followingNet Income, Fixed Expense, Variable ExpenseChecking Account and Savings AccountGross Income and Hours Worked30s
- Q11It is important that as an adult you have a budget; it is key in creating and maintaining good financial habits.FalseTrue30s
- Q12A successful budget depends on youChecking on it and updating it on a regular basisUsing a fancy budget app on your cell phoneNever using it30s
- Q13What is an expense?SavingsSpendingIncome30s
- Q14A budget will not give you a clearer picture of your finances and help reduce stressTrueFalse30s
- Q15If you spend more money than you earn, you will eventually go into debt.FalseTrue30s