Budgeting

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

• ask your parents

• your wallet

• bank and credit statements

• your bank representative

In addition to needs, what should you plan for first when creating a budget?

• Possible charitable donations

• Shopping money

• Investments

• Recurring expenses

Which of the following is a way to track your spending?

• Spreadsheet budget

• Envelope method

• An app

• All of the above

When setting a budget, you should consider...

• financial goals, current expenses, and income.

• mostly income.

• creative ways to spend your money.

• mostly your goals.

Unexpected expenses…

• can make it hard to stick to your budget.

• may cause you to be unable to pay necessary bills.

• should be planned for.

• all of the above

What budgeting tip(s) would help you to stay on track financially?

• Find a friend with similar goals and hold each other accountable

• Put aside fun money in your budget so you're not missing out

• Only use your closest gas station to fill up gas

• All of the above

When setting a budget, you can choose to make room for:

• Financial goals

• Entertainment expenses

• Charitable donations

• All of the above

What is the primary purpose of creating a budget?

• To track spending habits

• To ensure you spend all your money

• To avoid paying taxes

• To impress others

Which of the following is considered a fixed expense in a budget?

• Groceries

• Rent

• Entertainment

• Clothing

What is a common method to start saving money in a budget?

• Spend more on luxury items

• Save a fixed percentage of your income

• Ignore small expenses

• Borrow money from friends