Lesson 3 Budgeting EverFi

Front

Which of the following is a benefit of using a budget? Helps to keep track of the money you receive, Helps to prioritize your spending, Helps reach short- and long-term financial goals, All of the above

Back

All of the above

Front

Which of the following is NOT a benefit of using a budget? A budget can help you purchase anything you want, A budget can help you keep track of your money, A budget can help you make plans to reach your financial goals, A budget can help you decide the importance of your expenses

Back

A budget can help you purchase anything you want

Front

Which of the following should NOT be considered when setting a current budget?
Your financial goals,
Needs and wants,
Savings

Back

Future income

Front

Which of the following should you consider when setting a budget? Your financial goals, Needs and wants, Savings, All of the above

Back

All of the above

Front

Where should you look to find your current expenses when building your budget?

Back

bank and credit statements

Front

In addition to needs, what should you plan for first when creating a budget? Possible charitable donations, Shopping money, Investments, Recurring expenses

Back

Recurring expenses

Front

Which of the following is a way to track your spending? Options: Spreadsheet budget, Envelope method, An app, All of the above

Back

All of the above

Front

Which of the following is NOT true about emergency funds?
- They are used for anything listed on the budget.
- They can keep you from borrowing money from friends and family
- They help you prepare for unexpected expenses.
- They help remove the worry about expenses not in the budget.

Back

They are used for anything listed on the budget.

Front

When setting a budget, you can choose to make room for: Financial goals, Entertainment expenses, Charitable donations

Back

All of the above

Front

When setting a budget, you should consider...

Back

financial goals, current expenses, and income.