Budgeting Review

Pay Yourself first means...

• putting away part of your paycheck to shop

• saving your money if you get a bonus at work

• putting away part of your student loan debts

• putting away part of your paycheck for savings

I save 10% of my salary, and I make $100,000/year. How much will I have saved in 6 months?

• $1,000

• $5,000

• $10,000

• $20,000

Which of these monthly expenses could I easily reduce?

• Eating out

• Car payment

• Rent

• Utilities

If you have a budget deficit, then you...

• Have money saved

• Your revenue is higher than your spending

• You spend more than you have

• You will not overdraft from your account

Which of these is NOT a cost of owning a car?

• Loan payment

• Maintenance

• Gas

• Renter's Insurance

Net pay is your...

• Income before taxes are taken out

• Your income that you take home after taxes

• Your income before state and local taxes

• Your income before 401k and HSA

If I have $600 left over in my budget that I have not spent, then I have a...

• $600 surplus

• $600 deficit

• $600 balanced budget

• $600 debt

What are two most common expenses when you move into a new place?

• First month's rent

• Move-in fee

• Finder's Fee

• Security deposit for damages

How would I calculate 40% of $2,000?

• 0.40 x 2,000

• 40 x 20

• 40 x 200

• 0.0004 x 2,000

You earn $2,000 a month. Which of these apartments can you afford? (Rent should be no more that 40% of your pay)

• $600

• $750

• $850

• $1,000