Budgeting & Savings Review

Which of the following is NOT a component of a budget?

• Credit score
• Saving
• Income
• Giving

What does a budget show you?

• How much you need to save
• How much money you plan to come in and go out during the month
• How much money you need to earn
• How much money you spent last month

Detailed categories on your budget will help you make better spending decisions.

• True
• False

How many months does it usually take for your budget to start working as a budget should?

• one
• three
• five
• twelve

Research shows that nearly half of Americans (46%) feel stress and anxiety about the amount of _____________ they have.

• money
• debit cards
• categories in their budget
• personal debt

Net income is the amount you get paid before taxes.

• True
• False

What kind of money counts as income?

• Only the money you make at your job
• All money that you receive, including money form you job and gifts like birthday money
• Money in your savings account
• only money deposited in your bank account

How do you calculate net worth?

• Determine what is in your bank account
• Subtract your car loan from your income
• Add your assets and subtract the total of your debts
• principal times rate times time

If you are an investor, how would you like the interest earned on an investment calculated?

• simple interest
• compound interest

If you owe money on a credit card, how would you like the interest owed to be calculated?

• simple interest
• compound interest