Econ. CH. 2 and 3

What percentage of Americans actually use a budget?

• 78%

• 50%

• 25%

• 35%

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

• credit score

• saving

• income

• giving

Online budgeting apps are more effective than budgeting with pen and paper.

• True

• False

All of these are the Four Walls of your budget except...

• Food

• Utilities

• shelter

• car insurance

How many categories should you have in your budget?

• 5

• 10

• 15

• no limit

How often should you create a budget?

• daily

• weekly

• monthly

• yearly

When you get married, only one person is responsible for the budget.

• True

• False

A budget shows....

• how much you need to save

• how much you need to earn

• how much money you plan to come in and go out

• how much money you spent last year

Having detailed categories in your budget will help make better decisions.

• True

• False

About how many months does it usually take for your budget to start working?

• 3

• 4

• 5

• 1