Chapter 3 Budgeting

Front

Which of the following is a consequence of overdrawing your checking account? Stress from money mismanagement, Bounced check fee from the store, Overdraft fee from your bank, All of these

Back

All of these

Front

Doing a budget does not: Make overspending more likely, Make your money go further, Show if you are overspending in an area, Remove guilt and shame sometimes associated with a purchase

Back

Make overspending more likely

Front

Your monthly budget should include: Discretionary expenses, Fixed expenses, Variable expenses

Back

All of these

Front

Which of the following is something that a typical millionaire would do? Carry debt, Spend less money than he or she makes, Lease a new car, Replace things that are not broken

Back

Spend less money than he or she makes

Front

A written budget, if followed, removes ________ from your finances.

Back

Guilt, Management by crisis, Overspending

Front

The zero-based budget is the best method of budgeting because: Options: This type of budget is less complicated than other types of budgets, Sticking to a zero-based budget requires less discipline, A zero-based budget allows less money for wants, The zero-based budget ensures that every dollar you make is assigned a specific purpose

Back

The zero-based budget ensures that every dollar you make is assigned a specific purpose

Front

Rent is a:

Back

Fixed expense

Front

Eating out is a: Fixed expense, Variable expense, Discretionary expense, Intermittent expense

Back

Discretionary expense

Front

Groceries  are a:

Back

Variable expense

Front

Having more than one bank account is never a good idea since it can complicate money management.

Back

False