Quiz 2.1 - 2.4

A budget is ...

• a written plan for giving, saving, and spending your money.

• a hope for giving, saving, and spending your money.

• a wish for giving, saving, and spending your money.

• a written estimate for giving, saving, and spending your money.

A good budget ...

• breaks down your income and spending into specific categories so you know exactly where your money comes from and where you plan to spend it.

• breaks down only your spending into specific categories so you know exactly where your money comes from and where you plan to spend it.

• breaks down only your income into specific categories so you know exactly where your money comes from and where you plan to spend it.

• breaks down only your expenditures into specific categories so you know exactly where your money comes from and where you plan to spend it.

Did you know that students who have taken a personal finance course report higher confidence than students who did not when it comes to ...

• budgeting.

• investing.

• saving.

• budgeting, investing & saving.

• investing and saving only.

Only ___ % of Americans budget.

• 25

• 30

• 35

• 40

__ % of Americans say budgeting is important.

• 65

• 75

• 85

• 95

___________ of all Americans say their personal debt level creates stress and makes them anxious.

• Nearly half

• More than half

• Two-thirds

• Three-quarters

The first component of a budget is ...

• income.

• giving.

• saving.

• spending.

Unless you have a large family and/or a ton of close friends, one should not list Birthdays in the giving section of their budget.

• True

• False

• No idea - my teacher didn't talk about this in class.

The 4 walls talked about in this lesson refer to ...

• food, shelter, utilities and transportation.

• income, giving, saving and spending.

• the stability of your home based on a good foundation.

• having an emergency fund, eliminating debt, saving for a car, and saving for college.

Buying groceries is considered a(n) ___________ expense.

• fixed

• variable

• intermittent

• discretionary