Budgeting Quiz

What is a budget?

• A plan to manage your time for the day.

• A plan for spending and saving your money

Addy has just moved into her own apartment and is working full time. Each item below would go into her budget in the "Monthly Bills" category EXCEPT...

• Rent

• Electricity bill

• Shopping at the mall

What is income?

• The money that you earn.

• The money that you spend.

What is the name of a rule that a person can use to help determine what should me planned for needs, wants and savings?

• 10% rule

• 50-30-20

What is the amount of money set aside for future expenses?

• Savings

• Needs

• Wants

Which of the following is a want?

• Food

• Shelter

• Video game