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Budgets: How to get it done Quiz

Authored by Remi Akinmade

Other

12th Grade

Budgets: How to get it done Quiz
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11 questions

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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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