Budgets

Which equation would add up adjacent (next to each other) expenses listed in your spreadsheet?

• =SUM(A14,B14,C14)

• =SUM(A14:A28)

• = SUM(A14*2)

Which of these is a FIXED (consistent) expense?

• Entertainment

• Dining Out

• Monthly Gym Membership

Renter's Insurance policy is usually for a period of

• 12 months

• 6 months

• 3 months

Which of the following is a FIXED expense?

• Electricty

• Car Loan

• Food

What is the first step you need to take to create a budget?

• Contact your bank

• Phone a friend

• Determine your expenses

What is the Golden Rule of Finance?

• Save your paystub

• Pay yourself first

• Pay when you get to it

The 50-30-20 Budget suggests spending 30% of your monthly income on

• Needs

• Wants

• Saving/debt reduction

Which of the following chart types displays trends over time?

• 
• 
• 

Your monthly income is $3000. What is the minimum amount you should have accumulated in your emergency fund?

• $3000

• $9000

• $5000

Housing (rent/mortgage) should not exceed what percentage of your budget?

• 20-25%

• 30-35%

• 18-20%