Budgeting & Savings Review

Front

Which of the following is NOT a component of a budget? Credit score, Saving, Income, Giving

Back

Credit score

Front

What does a budget show you?

Back

How much money you plan to come in and go out during the month

Front

Detailed categories on your budget will help you make better spending decisions.

Back

True

Front

How many months does it usually take for your budget to start working as a budget should?

Back

three

Front

Research shows that nearly half of Americans (46%) feel stress and anxiety about the amount of _____________ they have.

Back

personal debt

Front

Net income is the amount you get paid before taxes.

Back

False

Front

What kind of money counts as income? Options: Only the money you make at your job, All money that you receive, including money from your job and gifts like birthday money, Money in your savings account, only money deposited in your bank account

Back

All money that you receive, including money from your job and gifts like birthday money.

Front

How do you calculate net worth? Options: Determine what is in your bank account, Subtract your car loan from your income, Add your assets and subtract the total of your debts, principal times rate times time

Back

Add your assets and subtract the total of your debts

Front

If you are an investor, how would you like the interest earned on an investment calculated? Options: simple interest, compound interest

Back

compound interest

Front

If you owe money on a credit card, how would you like the interest owed to be calculated? Options: simple interest, compound interest

Back

simple interest