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Final Review: Budgeting

Authored by William Widmer

Business

12th Grade

Used 68+ times

Final Review: Budgeting
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Building Wealth is the process of

Saving money in the bank and not spending it

Collecting material possessions which maintain value, such as gold jewelry, diamonds, paintings etc.

Not spending

Combining budgeting, saving and investing to increase net worth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

45% of Americans have less than $1,000 saved for a(n) _______.

Emergency

Car

Retirement fund

Phone

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of an emergency fund is to...

Teach you discipline—saving is purely a good exercise in self-control.

Teach you how to invest in growth stock mutual funds.

Have some extra money in a checking account in case you need to transfer some to your spending categories.

Be able to cover an unexpected expense with cash and protect you from having to pile up debt when something goes wrong.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

While saving money isn't easy at first, it will make your life a lot _______ in the future if you make it a habit now.

Longer

Poorer

Harder

Easier

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is budgeting so important?

It helps you brush up on your math skills.

It gives you control of your money and sets you up for financial success in the future.

It helps you figure out the best way to justify purchases that maybe aren't necessary.

It's a good way to make sure all your money is spent by the end of the month.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Although the majority of Americans think budgeting is important, about______ of Americans actually use a budget.

25%

50%

75%

90%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a budget show you?

  1. How much money you plan to come in and go out during the month

  1. How much you need to save

  1. How much money you need to earn

  1. How much money you spent last month

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