Why has Justin decided not to own a car?

The walking score in his city is high.

Jenna wants to decrease the amount of $ she spends on food. Which of the following would help? Options: Decide what she will make for dinner that same day, Go to the grocery store with a list, Go to the store whenever she needs 1-2 items, Eat at fast food restaurants multiple times a week.

Go to the grocery store with a list

Which of the following is TRUE about unit pricing?

Unit prices can help you compare the prices of similar items

In "pay yourself first" budgeting, what's typically the first action after getting paid?

Transfer money to your savings account

Fixed expense in a budget

An expense that stays the same each month

Which budgeting approach is most likely to help someone who tends to overspend on impulse purchases?

Using only cash for non-essential spending

The amount you pay before your insurance begins to pay

How can consolidating your student loans help your budget?

Your monthly payment may decrease

How does the 50/30/20 rule of thumb for budgeting allocate your income?

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

Which of the following is an example of buying something you NEED? "I want to replace something that is no longer working." "I want to impress someone/ change how they feel about me." "I'm feeling down, and I need to boost my spirits." "I don't want to miss out on these deals during the sale!"

"I want to replace something that is no longer working."

What is the primary benefit of creating an emergency fund?

To cover unexpected expenses without going into debt

What is the main advantage of using a budget tracking app?

It provides real-time updates on spending

Budgeting Flashcards

Student preview

25 questions

Show all answers

1.

FLASHCARD QUESTION

Front

How do wages and salary differ?

Back

Salary describes what you earn on an annual basis

2.

FLASHCARD QUESTION

Front

What is true about gross income?

Back

Gross income is the total amount earned BEFORE deductions.

3.

FLASHCARD QUESTION

Front

Which of the following may NOT always appear on your paycheck stub?

Gross Pay
Net Pay
Your Role/Title
Local Tax

Back

Your Role/Title

4.

FLASHCARD QUESTION

Front

Expenses common before signing a lease EXCEPT...

Back

Renter's Insurance

5.

FLASHCARD QUESTION

Front

What might you pay when you sign your lease?

Back

Security deposit

6.

FLASHCARD QUESTION

Front

According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.

Back

25-30%

7.

FLASHCARD QUESTION

Front

Which step can mitigate the risk of buying a used car?

Back

Get a vehicle history report

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