Budgeting Quarterly Assessment

When Noah creates his budget, he should prioritize and rank his goals.

• True

• False

Michael has a monthly budget where he has already committed to spend certain amounts on rent, utilities, and insurance. These are considered fixed expenses.

• True

• False

Charlotte is planning her monthly budget and realizes that flexible expenses are amounts that she can choose to spend or not spend.

• True

• False

Noah finds that he spends $20 more for groceries each week than he originally budgeted, then he is "over" budget.

• True

• False

Evelyn wants to save money for a vacation. If she wants to cut her spending, she'll have to start with her fixed expenses.

• True

• False

Ethan is planning his career and personal goals. The goals he sets affect his family, future family, and community.

• True

• False

Arjun is trying to organize his financial documents. He thinks stuffing all his receipts into a grocery bag is a good way to create an efficient filing system.

• True

• False

When first employed, many young people make the mistake of trying to buy too many luxury items.

• True

• False

Isla is trying to adjust her monthly budget. She finds that adjusting flexible spending, like dining out or entertainment, is easier than changing fixed spending, such as rent or mortgage payments.

• True

• False

Abigail is managing her monthly expenses and wants to ensure she stays within her budget. A successful budget requires accurate record keeping.

• True

• False