budgeting

What is the primary purpose of budgeting? (Remembering)

• To save money
• To invest money
• To make more money
• To manage income and expenses

Which of the following is NOT a type of budget? (Understanding)

• Personal budget
• Business budget
• Government budget
• Sports budget

How often should you review and update your budget? (Applying)

• Once a year
• Once a month
• Once a week
• As needed

What is the first step in creating a budget? (Analyzing)

• Set financial goals
• Track income and expenses
• Make adjustments
• All of the above

Why is it important to budget for large purchases or investments? (Evaluating)

• To save money
• To avoid debt
• To make informed financial decisions
• All of the above