Quiz on Thrift

The wise and careful use of money and possessions in order to obtain the maximum benefit from them is known as

• Thrift

• Accounting
• Investment
• Finance

A person who hates to spend money is a

• miser
• generous
• thrifty
• spender

Someone who spends money carelessly is known as a

• frugal
• miser
• saver
• spendthrift

The Adam family decides to be practice thrift. What money management measures should they adopt

• Adopt a budget, prioritize needs, reduce discretionary spending, and use cash for purchases.
• Spend more on luxury items
• Ignore budgeting altogether
• Invest in high-risk stocks

Which of the following is a common strategy for saving money

• Creating a budget
• Ignoring expenses
• Buying luxury items
• Investing in stocks

All of the following are shopping/spending practices which help housewives to become thrifty except

• comparing the prices and quality of substitutes

• using credit cards to make purchases

• examining items and their packaging to ensure that they have not been damaged

• avoiding too much credit as a result of impulsive buying

Adopting good spending habits will enable individuals to

• limit investment opportunities
• achieve financial stability
• reduce savings
• increase debt