Budgeting Quiz

People that budget and are good with their money say;

• Your money works for you

• You work for your money

People that do NOT budget and aren’t good with their money say;

• Your money works for you

• You work for your money

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According to the zero based budget all of the following are good ways to save money and budget EXCEPT;

• Don’t go out to dinner 🥘/ eat out less

• Buy used cars 🚘

• Use coupons or wait to buy something until it’s on sale

• Use all of your savings and take out loans with high interest rates whenever you can’t afford expenses

According to the Zero Based Budget theory, all of the following are considered needs EXCEPT;

• Food and water

• Housing

• Transportation

• Basic clothing

• Entertainment

When you want something you should ALWAYS get it.

• True

• False

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The goal of a budget is _________________.

• to spend more than you make

• to spend less than you make

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The zero based budget is the best method of budgeting because:

• This type of budget is less complicated than other types of budgets

• A zero-based budget allows less money for wants

• Sticking to a zero-based budget requires less discipline

• The zero-based budget ensures that every dollar you make is assigned a specific purpose

People create and keep a personal budget to help them _____.

• set and reach financial goals

• apply for loan

• buy anything they want

• earn promotions at work

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For which item would someone most likely need to save money in order to

purchase?

• a washing machine

• a tub of ice cream

• dinner for two

• a pair of socks

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Which of the following are considered WANTs? (You can choose more than one.)

• Concert tickets

• Water

• A new pair of shoes

• Rent

• Medical fees