Which of the following is a benefit of using a budget?

• helps to keep track of the money you receive

• helps to prioritize your spending

• helps reach short- and long-term financial goals

• all of the above

Which of the following is NOT a benefit of using a budget?

• A budget can help you purchase anything you want.

• A budget can help you keep track of your money.

• A budget can help you make plans to reach your financial goals.

• A budget can help you decide the importance of your expenses.

Why is using a budget beneficial?

• helps to keep track of the money you receive

• helps to prioritize your spending

• helps reach short- and long-term financial goals

• all of the above

Which of the following should NOT be considered when setting a current budget?

• your financial goals

• future income

• needs and wants

• savings

Which of the following should you consider when setting a budget?

• your financial goals

• needs and wants

• savings

• all of the above

What should be considered when setting a budget?

• needs and wants

• savings

• time management goals

• needs, wants, and savings

_________ are good places to look to find your current expenses when building your budget.

• banks and credit unions

• grocery stores and concerts

• bank and credit statements

• online research websites

Where should you look to find your current expenses when building your budget?

• ask your parents

• your wallet

• bank and credit statements

• your bank representative

Bank statements, credit statements, and records of cash expenses help you to estimate your _________

• credit score

• emergency fund needs

• expenses

• available investments

In addition to needs, what should you plan for first when creating a budget?

• possible charitable donations

• shopping money

• investments

• recurring expenses