Budgeting Quiz

What is the difference between wants and needs?

• Wants- Something that's just nice to have.

• Needs- Something we have to have to survive.

• Wants- Something we have to have to survive.

• Needs- Something that's just nice to have.

Which of the following is a want?

• Clothing

• Rent

• Gas

• Entertainment

Which of the following is a need?

• Groceries

• Gym Membership

• Eating out

• Phone

What are fixed expenses?

• Expenses that come every month no matter what

• Expenses that can change from month to month

• Expenses that are unexpected

• Expenses that are not necessary

What are variable expenses?

• Expenses that come every month no matter what

• Expenses that can change from month to month

• Expenses that are not necessary

• Expenses that are unexpected

Which of the following is a variable expense?

• Car insurance

• Emergency Saving

• School Books

• Rent

Which of the following is a fixed expense?

• Eating out

• Gas

• Entertainment

• Car maintenance

What do you need to know to prepare a budget?

• Your goals and aspirations

• Your savings and investments

• Your wants and needs

• Your income and expenses

Which of the following is a want?

• Rent

• Car insurance

• Haircuts

• Groceries

Which of the following is a need?

• Gas

• School Books

• Emergency Saving

• Entertainment