Balancing Your Budget Basics

What does having a negative balance in your budget indicate?

• Your expenses are less than your income.

• Your income is equal to your expenses.

• Your income is not enough to cover your expenses.

• You have saved more money than expected.

Which of the following is a common way to increase your income?

• Reducing your grocery expenses.

• Finding a better-paying job.

• Canceling unnecessary subscriptions.

• Using public transportation instead of driving.

Which of the following is NOT a method to increase your income?

• Asking for a raise at your current job.

• Selling items you no longer need.

• Saving your change and cashing it in.

• Buying more expensive clothes.

What is one way to earn extra money outside of your regular job?

• Watching TV shows.

• Babysitting or mowing lawns.

• Taking longer vacations.

• Eating out more often.

How can you utilize gifts to help balance your budget?

• Ask for money or gift cards as gifts.

• Request more physical gifts.

• Avoid receiving any gifts.

• Only accept gifts during holidays.

Which of the following is a strategy to decrease expenses?

• Buying more luxury items.

• Increasing your grocery budget.

• Canceling unused subscriptions.

• Eating out more frequently.

What is a benefit of selling things you don't use anymore?

• It increases your expenses.

• It decreases your income.

• It helps to increase your income.

• It makes your home more cluttered.

Which of the following is a non-traditional way to increase your income?

• Asking for a raise.

• Selling crafts.

• Working overtime.

• Investing in stocks.

What should you do if your income is not enough to cover your expenses?

• Ignore the problem.

• Increase your expenses.

• Try to increase your income or reduce your expenses.

• Spend more on luxury items.

Which of the following is a way to save money on everyday expenses?

• Buying more expensive brands.

• Using coupons and discounts.

• Eating out every day.

• Taking taxis instead of public transport.