Budgeting Review

Which of the following is a benefit of using a budget?

• Helps sort short- and long-term financial goals.

• Helps you keep track of the money you spend.

• It does not have any benefits.

Which of the following should you consider when setting a budget?

• Financial goals, needs, wants, savings

• Interest rates

• What your neighbor is budgeting

Where are good places to look to find your current expenses when building a budget?

• Zach Bryan concert

• Grocery stores

• Bank and credit statements

In addition to needs, what should you plan for first when creating a budget?

• Recurring expenses

• The Flower Festival

Which of the following is a way to track your spending?

• Spreadsheet, envelope method, an app

• Close your eyes and hope for the best

• There is no way to track your spending

Which choice best describes the purpose of an emergency fund?

• An emergency fund makes you worry even more about expenses not in budget.

• An emergency fund prepares you for unexpected expenses.

What is something that helps you prepare for unexpected expenses?

• Emergency Fund

• Credit Cards

• Debit Cards

• Insurance

Unexpected expenses...

• allow you to prioritize your investments.

• may cause you to be unable to pay necessary bills.

Which of the following expenses would be a good reason to spend money from an emergency fund?

• Purchase front row Lainey Wilson concert tickets.

• Repair your laptop that you use for homework.

• Buy a puppy.

An unanticipated expense that will make it difficult to get by day-to-day would be a candidate for...

• emergency fund spending.

• spending money from your "rent" envelope.