Budgeting - Unit 10

If you want to spend less on food, you should...

• Drink more coffee and soda to feel less hungry

• Cook your own meals at home

• Eat more snacks on the go and fewer meals at home

• Eat at restaurants more to avoid doing dishes

Leila is choosing a city to move to after college.

Which factor is LEAST important for her to consider?

• Average cost of Uber, Lyft, or taxi fare

• Employment opportunities

• Food and grocery store options

• Average rent for an apartment

Which of the following is NOT typically required when signing a lease for an apartment?

• A security deposit

• Proof of employment

• First and last month's rent

• A bank account

How does the 50/20/30 Rule divide your take-home pay?

• 50% on saving, 20% on wants, and 30% on needs

• 50% on needs, 20% on saving, and 30% on wants

• 50% on wants, 20% on saving, and 30% on needs

• 50% on saving, 20% on needs, and 30% on wants

Your monthly net pay is $2,500 and your monthly expenses are $2,625. How would you describe your budget?

• You have a surplus of $2,500

• You have a deficit of $2,625

• You have a surplus of $125

• You have a deficit of $125

Isaiah earns $3,000 at his internship. After taxes and deductions, he takes home $2,500. Which statement is correct?

• His gross pay is $3,000 and net pay is $2,500

• His gross and net pay are $2,500

• His gross pay is $2,500 and net pay is $3,000

• His gross and net pay are $3,000

Aaron has a budget deficit of $175 each month.

Which option is the best way for him to fix this?

• Sell his car and buy a cheaper one

• Save $100 less and put $75 less into retirement each month

• Cancel a streaming subscription and eat out three fewer times each month

• Pay only the minimum on his student loan and credit card instead of extra

Which of the following is NOT a good way to save money at the grocery store?

• Make a grocery list and stick to it

• Compare only the price of similar products

• Plan meals using items you have or that are on sale

• Check the unit price when comparing products

If you move into a 3-bedroom apartment with 2 roommates instead of living alone, which expense would likely decrease?

• Cell phone bill

• Rent

• Bedroom furniture

• Groceries and eating out

Which is the best description of a Zero-Based Budget?

• You spend your checking account balance to $0 each month

• You assign every dollar of your net pay to a budget category each month

• You pay all your debts down to $0 each month

• You spend your savings account balance to $0 each month