Budgeting

Which of the following might you pay WHEN you sign your lease?

• Finder's fee

• Application fee

• Security deposit

• Renter's insurance

How do wages and salary differ?

• Wages describe what you earn on an annual basis

• Salary describes what you earn on an annual basis

• Wages mean you have a standard amount in each paycheck

• Salaried employees are likely to be paid for overtime

Jenna wants to decrease the amount of $ she spends on food. Which of the following would help?

• Decide what she will make for dinner that same day

• Go to the grocery store with a list

• Go to the store whenever she needs 1-2 items

• Eat at fast food restaurants multiple times a week

Which budgeting approach is most likely to help someone who tends to overspend on impulse purchases?

• Tracking expenses after each purchase

• Using only cash for non-essential spending

• Automating all bill payments

• Reviewing expenses at the end of each month

It's common to have all of the following expenses BEFORE signing a lease EXCEPT...

• Renter's Insurance

• Application fee

• Application deposit

• Apartment hunting expenses

Which of the following are TRUE about gross income and net income?

• They are the same thing

• Gross income is the total amount earned AFTER deductions

• Gross income is the total amount earned BEFORE deductions

• Net income is the total amount earned BEFORE deductions

Which of the following is an example of buying something you NEED?

• "I want to replace something that is no longer working."

• "I want to impress someone/ change how they feel about me."

• "I'm feeling down, and I need to boost my spirits."

• "I don't want to miss out on these deals during the sale!"

What is a deductible?

• The cost you and your insurance share

• The amount your insurance pays before you pay

• The discount you get on your health insurance every year

• The amount you pay before your insurance begins to pay

How can consolidating your student loans help your budget?

• You'll pay more in interest over time

• You'll be more likely to be eligible for loan forgiveness

• Your monthly payment may decrease

• Your interest rate is guaranteed to decrease

Which of the following is TRUE about unit pricing?

• Unit prices can help you compare the prices of similar items

• Unit price labels are universal throughout the country

• It's easy to compare quantities on a unit price label

• All states require unit price labels