PRICOS Online Quiz #2

A budget is a financial plan that helps you keep track of your income and expenses.

• TRUE

• FALSE

Creating a budget can help you achieve your financial goals.

• TRUE

• FALSE

Only people with high incomes need to create a budget.

• TRUE

• FALSE

It is not necessary to track your expenses when creating a budget.

• TRUE

• FALSE

You should prioritize essential expenses when allocating money in your budget.

• TRUE

• FALSE

Creating a budget means that you cannot spend money on non-essential items.

• TRUE

• FALSE

A budget should be flexible and allow for changes over time.

• TRUE

• FALSE

It is not necessary to review your budget regularly once it has been created.

• TRUE

• FALSE

Budgeting can help you identify areas where you are overspending and find ways to save money.

• TRUE

• FALSE

Creating a budget is a one-time process and does not require ongoing maintenance.

• TRUE

• FALSE