
Budgets: How to get it done Quiz
Quiz
•
Other
•
12th Grade
•
Hard
Remi Akinmade
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in tracking expenses and income?
Invest in stocks
Gather financial documents and records
Create a budget
Open a bank account
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a financial goal?
Saving for retirement
Buying a new car
Going on a vacation
Losing weight
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common saving strategy?
Spending all income on luxury items
Setting aside a percentage of income each month
Borrowing money to cover expenses
Investing all income in stocks
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is budgeting for emergencies important?
To waste money on unnecessary expenses
To be financially prepared for unexpected events
To have more money for luxury items
To impress others with your spending habits
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main difference between credit and debit?
Credit and debit are the same thing.
Credit is when money is added to an account, while debit is when money is taken out of an account.
Credit is used for online transactions, while debit is used for in-person transactions.
Credit is when money is taken out of an account, while debit is when money is added to an account.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a good practice for tracking expenses?
Guessing the amount spent
Keeping a record of all expenses and categorizing them
Ignoring expenses
Keeping receipts and invoices
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the recommended percentage of income to save each month?
50%
10%
20%
30%
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