Budgeting & 4 Year Plan Quiz

Which of the following is a common reason for creating a budget?

• To spend money impulsively

• To track income and expenses

• To forget about financial goals

• To never review financial progress

What does the term "fixed expenses" refer to in a budget?

• Expenses that change each month

• Expenses that are unexpected

• Expenses that stay the same each month

• Expenses that are not necessary

What does the term "variable expenses" refer to in a budget?

• Expenses that change each month

• Expenses that are unexpected

• Expenses that stay the same each month

• Expenses that are not necessary

In a budget, what does "income" represent?

• Money spent on bills

• Money earned or received

• Money saved for emergencies

• Money for entertainment only

Why is it important to review and adjust a budget regularly?

• To spend more money

• To reach financial goals

• To avoid creating a budget

• To ignore financial habits

Which of the following is a smart budgeting practice?

• Saving money sporadically

• Setting unrealistic financial goals

• Ignoring all expenses

• Tracking spending and making adjustments

How many credits are required for a typical Texas High School Diploma?

• 13

• 27

• 33

How many years of LOTE (Language Other Than English) are needed?

• 0

• 1

• 2

• 4

You are required to take PE or Athletics every year of high school.

• True

• False