1. Which of these costs would be the MOST difficult to adjust if you were looking to reduce your expenses?

2. Maintaining a balanced budget requires

3. In determining your net worth which of the following is considered an asset?

4. At the end of the month you have discretionary income available after all expenses have been paid. The budget this month has a:

You have total assets of $240,000 and total liabilities of $125,000. What is your net worth?

6. All effective financial goals should:

7. An example of a variable expense is

8. A good reason for a person to prepare and use a monthly budget is to:

9. Aaron realizes he has a budget deficit of roughly $175 at the end of two months in a row. Which of these options makes the most sense for him to fix his problem?

10. Which of the following is not an Asset?

11. Your net worth is $10,000. You have $25,000 in assets. How much do you have in liabilities

12. Which is the most difficult budget item for a person to change?

13. You overhear your cousin talking about the importance of creating and sticking to a budget. Which of the following reasons he gives below is actually FALSE?

14. When you are determining your net worth, your car loan is considered:

15. When setting long-term financial goals, it is important to know that these goals should be:

16. To increase his net worth, Jackson could:

17. An individual wants to start investing an additional $50 a month. Usually the easiest way to adjust a monthly budget to meet this goal is to reduce:

18. The purpose of a budget is to:

19. Which budget expense and financial activity is correctly matched?

20. To calculate her net worth Jordyn should use the following formula: