Budgeting

Front

When creating a budget, what area can you easily reduce to save money? Options: Fixed expenses, Discretionary spending, Retirement savings, All of these answers

Back

Discretionary spending

Front

What is one way to sabotage your budgeting goals? Options: Spend less on clothing, Work more hours at your current job or take on a side hustle, Keep using your credit card without paying off the balance, Cancel a subscription service

Back

Keep using your credit card without paying off the balance

Front

How often should you review your budget goals? Options: every quarter, every year, every month, whenever the mood hits you

Back

every month

Front

A budget will stop you from spending too much money.

Back

False

Front

Is pizza a need or a want?

Back

It depends

Front

Marie wants to decrease the amount of money she spends on food. Which of the following will help her? Going to the grocery store with a list, Going to the grocery store whenever she needs one or two items, Deciding what she will have for lunch/dinner that same day

Back

Going to the grocery store with a list

Front

How does the 50/30/20 method allocate your income?

Back

50% Needs, 30% Wants, 20% Savings & Debt Repayment

Front

Considered the best strategy for building wealth: Zero-Based Budget, 50/30/20 Method, Pay Yourself First, Envelope System

Back

Pay Yourself First

Front

Which of the following is an example of buying something you need? "I'm buying a microwave because the one I have is no longer working.", "Getting my nails done at the salon will boost my spirits.", "I don't want to miss out on these deals during a sale!", "I want to impress someone/change how they feel about me."

Back

"I'm buying a microwave because the one I have is no longer working."

Front

The zero-based budget:

Back

ensures that every dollar you make is assigned a specific purpose