Although the majority of Americans think budgeting is important, about ________ of Americans actually use a budget.

• 95 %

• 65 %

• 25 %

• 35 %

Which of the following is NOT a component of a budget?

• Credit Score

• Saving

• Spending

• Giving

What are the Four Walls?

• Utilities, college fund, restaurants, and car insurance

• Cell phone, car insurance, Shelter, and money for entertainment

• Food, Utilities, Shelter, and Transportation

• Food, Utilities, Transportation, and college fund

How often should you create a budget?

• Daily

• Weekly

• Monthly

• Semiannually

The best way to budget is ...

• by using a digital app.

• by using a spreadsheet.

• by using paper and pencil.

• the method that works best for you.

Your monthly rent or house payment is an example of a ________ expense.

• Fixed

• Variable

• Intermittent

• Discretionary

Discretionary or non-essential expenses are based on _______.

• needs

• wants

Creating a budget can make you feel powerful! Why?

• People who budget earn more money, so they can live a better life

• A budget puts you in control of your spending and saving, so you make good decisions and feel more confident

• You can't really budget unless you have an important job, which means that other people look up to you

• Budgeting is extremely easy, so once you set it up, you are done for good and can spend time on other things

What is an example of a monthly variable cost?

• groceries

• car payment

• gym membership

• student loan payment

Your pay before tax deductions is known as

• Total Income

• Paycheck

• Net pay

• Gross pay