What does the acronym SMART stand for in the context of financial goals?

Budgeting Quiz

Quiz
•
Life Skills
•
12th Grade
•
Medium
Ramon Torres
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sensible, Manageable, Attainable, Reasonable, Thoughtful
Strategic, Motivating, Ambitious, Resourceful, Targeted
Sustainable, Meaningful, Achievable, Relevant, Time-bound
Specific, Measurable, Action-oriented, Realistic, Timely
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a short-term financial goal?
Saving for a house
Saving for a car
Saving for retirement
Saving for college
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an emergency fund?
To save for a vacation
To save for a car
To save for college
To cover unexpected expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are fixed expenses?
Expenses that change month-to-month
Expenses that are the same every month
Expenses for entertainment
Expenses for groceries
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key to maintaining a balanced budget?
Neither increasing income nor reducing expenses
Both increasing income and reducing expenses
Reducing expenses
Increasing income
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to have a budget surplus?
Income and expenses are unknown
Income is equal to expenses
Expenses are greater than income
Income is greater than expenses
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the consequence of having expenses exceed income in the long term?
Achieving financial goals
Building savings
Increasing income
Accumulating debt
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