Angel, Becky, Maria - Ch.4 Budgeting Lesson

Multiple Choice

What should you do if you overspend in one category of your budget?

• Borrow money from a friend or family member

• Withdraw more money from your account

• Under spend in another category

• Spend more money and then save next month

Multiple Choice

George and Martha both want to buy a pair of shoes that cost $100.

This is an example of...

• Price

• Value

Multiple Choice

Polly is buying a brand new iPhone. What would make this purchase valuable?

• The phone has enhanced security so her info is less likely to be stolen

• She has extra money from her birthday

• Her old iPhone was ugly

• All her friends have the latest model

Multiple Choice

Bartholomew is deciding between two calculators for his math class.

Model A: more expensive, but can also be used for his science class

Model B: cheaper, but limited only to math

In this case, Bartholomew should be...

• Cheap

• Frugal

Multiple Choice

What is a case where you should use your emergency fund?

• Target is having a sale

• You and your friends want to go out for dinner

• You accidentally trip and break your leg, requiring medical care

• Your favorite singer in on tour

Multiple Choice

Bobby makes $4500 a month after taxes. How much money should be allocated towards his wants?

• $0

  He should put the money towards savings instead of wasting on wants

• $2250

• $900

• $1350

Multiple Choice

Sally made $2700 in the month of June. The following month she makes $1500. (This is her income after taxes have been deducted.) How much did she spend on housing between the 2 months?

• $2100

• $600

• $1200

• $4200

Multiple Choice

What are the 3 biggest categories people make mistakes with when budgeting?

• Leisure, insurance, utilities

• Housing, transportation, food

• Shopping, technology, travel

• None of the above

Multiple Choice

How can banking apps be beneficial?

• Links bank accounts to monitor spending progress

• Receive alerts when you are overspending

• Set financial goals

• All of the above

Multiple Choice

Which is NOT a system of budgeting?

• Spreadsheet

• Track in your head

• Envelope system

• On paper