Personal Finance and Budgeting Quiz

Your Monthly Budget Should Include....

• Only discretionary expenses

• Only fixed expenses

• Unexpected expenses

• Only savings

Which is a consequence of overdrawing your account?

• Bank fees

• Increased savings

• Financial reward

• Higher credit score

A written budget (if followed) removes ________ from your finances

• Debt

• Stress

• Income

• Expenses

Which of the following is NOT a good way to save money

• Using coupons

• Cutting unnecessary expenses

• Skipping bill payments

• Setting aside savings each month

When we budget or buy things what do we need to know?

• How much you will get paid next week.

• How much money you have

• Weekend plans

Kylie plans on using the 50/30/20 rule for budgeting. How will she split her budget?

• 50% needs, 30% wants, 20% savings

• 50% budget, 30% needs, 20% wants

• 50% saving, 30% needs, 20% wants

• $50 needs, $30 wants, $20 savings

How much does one box of pasta cost?

• $4

• $1.33

• $0.75

• $2