Changing Bad Spending Habits Quiz

What is the first logical step in building good spending habits?

• Set a Monthly Budget

• Reduce Credit Card Spending

• Make a Grocery List

• Avoid Large Impulse Purchases

What is the average credit card interest rate in May 2023 according to Forbes?

• 20.50%

• 24.25%

• 18.75%

• 22.00%

What should you do to avoid large impulse purchases?

• Borrow money

• Use a credit card

• Wait a week to a month before purchasing

• Buy immediately

What is a good financial habit to avoid food waste?

• Buy in bulk

• Make a grocery list and meal plan

• Eat out frequently

• Shop daily

What should you do before making major purchases to avoid overspending?

• Ask friends for advice

• Shop around and compare prices

• Buy the first option you see

• Use a credit card

How can you avoid unnecessary fees and charges?

• Pay bills late

• Check your accounts daily

• Overdraft your account

• Ignore your account balance

What should you do with subscriptions and memberships to save money?

• Keep all subscriptions

• Increase subscriptions

• Ignore subscription costs

• Audit and cut out unused subscriptions

What is a good financial habit regarding utility bills?

• Pay whatever is billed

• Ignore bill spikes

• Check for leaks and monitor usage

• Leave appliances on

What should you keep in mind to develop better spending habits?

• Focus on immediate gratification

• Think of your future and financial goals

• Ignore financial goals

• Spend without planning

What is a good practice to manage your grocery expenses?

• Shop without a list

• Buy only branded items

• Plan meals and make a list

• Shop when hungry