Personal Financial Sustainability Quiz

What should planned spending be based on?

• Up-to-date knowledge of comparative prices

• Past prices

• Future predictions

• Random guesses

What is a consequence of missing a monthly payment on a loan?

• Fees or penalty charges

• No consequences

• Increased loan amount

• Reduced interest rate

What is a key feature of a cash-flow plan?

• It remains constant

• It adapts to changes in products and services

• It is only for large businesses

• It is based on luck

Which is a good method of monitoring spending?

• Get another job

• Keep a daily spending diary

• Stop spending money

• Borrow money from friends

How are items categorized in a financial plan?

• By color

• By size

• By needs, wants, and aspirations

• By brand

What might happen if mandatory expenditures are not paid?

• You receive a discount

• You could face legal action

• You get a refund

• You earn interest

Which of the following is considered essential expenditure?

• Snack food and drinks

• Gym subscriptions

• Rent or mortgage instalments

• Eating at restaurants

Which item is considered a discretionary expenditure?

• Minimum monthly payments on a credit card

• Snack food and drinks

• Basic food and drink needs

• Rent or mortgage instalments

What could happen if someone on a limited income does not pay their rent or mortgage?

• They could save more money.

• They might face eviction and homelessness.

• They could buy more discretionary items.

• They might receive a bonus.

What is a common issue even millionaires face regarding spending?

• Lack of money.

• Having to make choices and decide on priorities.

• Not being able to travel.

• Inability to invest.