Managing Your Finances

According to the text, what is the role of a budget?

• To predict future income and expenses

• To estimate present income and expenses

• To give orders to soldiers

• To assign jobs to your money

What are the categories mentioned in the text for organizing expenses?

• Essentials, Security, Goals, Lifestyle, Discretionary

• Necessities, Savings, Aspirations, Personal, Optional

• Required, Stability, Objectives, Social, Luxury

• Basic, Financial, Ambitions, Social, Indulgence

What is the purpose of assigning soldiers in the budget analogy?

• To determine how much money you currently have

• To decide how much money you want to spend

• To allocate your money to different categories

• To save money for future expenses

Why is it important to have explicit purposes for your savings?

• To make it easier to steal from your savings

• To have a clear goal for your savings

• To prevent yourself from saving too much

• To avoid spending your savings on emergencies

What is the recommended method for keeping track of your budget?

• Using a spreadsheet or an app

• Using a checkbook and pencil

• Keeping all the information in your head

• Using a budgeting app on your phone

What is one benefit of budgeting correctly?

• Having more money

• Being less stressed

• Being able to afford luxury items

• Being able to check your account balance

What is the main purpose of budgeting according to the text?

• To have more money

• To be happier with the money you have

• To achieve big life goals

• To navigate your social world

What is the name of the PBS Digital Studios series mentioned in the text?

• Say It Loud

• Black History and Culture

• Identity and Pop Culture

• Black Pride Movements

Who are the hosts of the PBS Digital Studios series?

• Evelyn From The Internets and Azie Dungey

• George Washington and General Continental Army

• Weird Al and Black Twitter

• Preschoolers and Princes

What is the focus of the PBS Digital Studios series?

• Black History and Culture

• Financial Management

• Budgeting and Saving

• Identity and Pop Culture