Budget Quiz 2

15% of your monthly budget should be spent on

• food

• rent

• Entertainment

Fruits and vegetables should be a part of your food budget because

• they are the best tasting food in the whole world

• they are super cheap

• they include fiber, potassium, and vitamins

Which of these are saving tactics to help save money?

• Stay off social media

• Make a grocery list

• Shop it up on Amazon

• Use cash only

A (a)   is a planning document on which your income and expenses are listed.

Check the items that are most important on a budget worksheet

• Income

• Rent

• Expense

• Salary

The 5 steps for creating a budget include:

1. Choose a worksheet (app or paper)
2. Estimate Income
3. ?
4. Record actual income and expenses
5. ?

• Estimate savings/Pay insurance

• Estimate expenses/calculate difference

• Pay insurance/Calculate expense

An (a)   is Checking your budget for accuracy and to determine whether it is helping you to achieve your goals

Why should you review your budget AT LEAST once a year?

• Because it can help you think about achieving major goals such as spending excessive money you do not have

• Because it can help you plan steps toward major goals that may take many years to achieve

• Because it can help you plan steps toward spending money that you hope to earn in the future

When your financial goals change, your ____________will change.

• job

• insurance

• budget

When thinking about housing costs, how can you be smart about this expense? (choose multiple answers)

• Look for a roommate

• Live with friends or family

• Find a 2 bedroom apartment for yourself in the city

• Save money to put for a down payment on a house

• Look for an apartment with a pool, dog park, and fitness center