Budgeting

Front

What is a benefit of using a budget? Options: Helps to keep track of the money you receive, Helps to prioritize your spending, Helps reach short- and long-term financial goals, All of the above

Back

All of the above

Front

What should NOT be considered when setting a current budget? Options: Your financial goals, Needs and wants, Savings, Future income

Back

Future income

Front

What are good places to look to find your current expenses when building your budget?

Back

Bank and credit statements

Front

Bank statements, credit statements, and records of cash expenses help you to estimate your ________.

Back

expenses

Front

In addition to needs, what should you plan for first when creating a budget?

Back

Recurring expenses

Front

When should you look at recurring expenses in your budgeting process?

Back

Before reviewing your wants

Front

Ways to track your spending: Envelop method, Spreadsheet budget, An app, All of the above

Back

All of the above

Front

Which of the following is NOT a good way to track your spending?

• In your head
• Notebook and pencil
• Envelope Method
• Online software or app

Back

In your head

Front

Which of the following is NOT true about emergency funds?

• They are used for anything listed on the budget.
• They can keep you from borrowing money from friends and family.
• They help you prepare for unexpected expenses.
• They help remove the worry about expenses not in the budget.

Back

They are used for anything listed on the budget.

Front

Charitable donations, entertainment expenses, and financial goals are all examples of...

Back

things to consider when creating a budget.