Week #4 Personal Budget Quiz

What is a budget?

• A process of creating a plan to spend and save money

• An individual's belongings which have value

• An individual's expenses and outstanding debts

• Goals set to be achieved in less than a year of time

What are assets?

• A process of creating a plan to spend and save money

• An individual's belongings which have value

• An individual's expenses and outstanding debts

• Goals set to be achieved in less than a year of time

What are short-term goals?

• A process of creating a plan to spend and save money

• An individual's belongings which have value

• Goals set to be achieved in less than a year of time

• Goals set to be achieved in about five to 10 years

What is a spender?

• An individual who likes to save money rather than spend money

• An individual who enjoys spending money on himself/herself or others

• An individual who enjoys investing money into high-risk ventures

• An individual who plans for the future and is prepared for any type of financial situations

What are spending needs?

• Expenditures which are essential for an individual to live and function

• Expenses which help an individual to live more comfortably

• An individual's belongings which have value

• An individual's expenses and outstanding debts

a _____ is an individual who likes to save money rather than spend money

A _____ is an individual who does not consider money as a necessity and does not have much of an opinion on money.

What is a process to create a plan to spend & save?

Who is someone who invests money into high-risk ventures?

What are goals set to achieve in 10 or more years?

Answer explanation