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50/30/20 Budget

Authored by James Cox

Other

12th Grade

Used 5+ times

50/30/20 Budget
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15 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What percentage of viewers wanted videos on personal finance?

13%

22%

30%

18%

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does the 50 in the 50/30/20 rule represent?

Wants

Savings

Needs

Debt repayment

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What should constitute no more than 30% of your budget according to the 50/30/20 rule?

Savings

Needs

Wants

Investments

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does the 20 in the 50/30/20 rule stand for?

Needs

Investments

Savings and debt repayment

Wants

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the first step in applying the 50/30/20 rule?

Listing all debts

Setting up a savings account

Identifying needs vs. wants

Calculating net income

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is considered a need?

Netflix subscription

New shoes

Dining out

Health insurance

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

How much of your income should go towards savings or paying off debt according to the 50/30/20 rule?

10%

50%

30%

20%

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