Sarah's Budgeting Quiz

What is Sarah's monthly take-home pay?

• $2,500

• $3,000

• $3,500

• $4,000

According to the 50/30/20 rule, how much should Sarah allocate to her needs?

• $1,050

• $1,400

• $1,750

• $2,100

How much should Sarah budget for her wants based on the 50/30/20 rule?

• $700

• $1,050

• $1,400

• $1,750

What is the maximum amount Sarah should spend on rent, according to financial experts?

• $875

• $1,050

• $1,225

• $1,400

Based on the guideline that transportation costs should not exceed 10% of the total budget, what's the maximum amount Sarah should allocate for all transportation expenses monthly?

• $280

• $350

• $400

• $525

Which of the following is considered a "need" in the 50/30/20 budgeting rule?

• Netflix subscription

• Dining out

• Groceries

• Concert tickets

How much should Sarah allocate to savings and debt repayment each month?

• $350

• $525

• $700

• $1,050

If Sarah spends $1,000 on rent and $350 on transportation, how much does she have left for other needs?

• $200

• $400

• $600

• $800

Which of the following would be categorized as a "want" in Sarah's budget?

• Health insurance

• Electricity bill

• Movie tickets

• Student loan payment

If Sarah receives a $500 bonus, how much should she save according to the 50/30/20 rule?

• $50

• $100

• $150

• $200