Budgeting and Financial Wellness Quiz

What is the main purpose of creating a budget?

• To ignore expenses

• To buy more things

• To reach a savings goal and avoid debt

• To spend more money

What is the first step in managing expenses?

• Write down all your wants

• Learn the details of each bill

• Spend money on entertainment

• Ignore your bills

What should you do before going grocery shopping?

• Eat something

• Shop on an empty stomach

• Buy everything you see

• Skip making a list

Which of the following is a way to reduce personal expenses?

• Buy 'dry-clean only' clothes

• Avoid student discounts

• Shop only at big retailers

• Use thrift and consignment stores

What is a benefit of tracking your income?

• It helps you spend more

• It helps you forecast future income

• It makes you ignore your expenses

• It increases your bills

What should you do with your budget if your income changes?

• Adjust your current budget

• Ignore the change

• Stop budgeting

• Spend more money

What is a suggested way to save on utilities?

• Ignore installation costs

• Use more electricity

• Ask for money-saving rate plans

• Leave lights on all the time

What is a good practice for managing transportation costs?

• Use a taxi for every trip

• Ignore parking fees

• Carpool with friends

• Drive everywhere alone