Week 4 Sneaky Budget Tricks

What percentage of financial decisions are based on emotions?

• 10%

• 50%

• 75%

• 90%

What is Adrian's average monthly take-home pay after taxes and insurance?

• $2,520

• $5,460

• $2,884

• $75,000

What is Adrian's total monthly amount for essential expenses and debt payments combined?

• $2,350

• $300

• $2,650

• $2,810

What is Adrian's average net monthly savings, based on the growth of his savings account over the last six months?

• $500

• $416

• $166

• $2,500

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What is the formula used to calculate the percentage of income spent on essential expenses and debt payments?

• (Essentials + Debt) / Income

• (Income - Essentials) / Debt

• (Essentials - Debt) / Income

• (Income + Debt) / Essentials

Which of the following categories are generally considered essential expenses over which individuals have the least control?

• Dining out, entertainment, new clothing

• Rent, utilities, groceries, transportation

• Vacations, luxury goods, hobbies

• Subscriptions, impulse purchases, gifts

If your essential expenses, including debt payments, account for 55-60% or more of your income, what does this situation most likely indicate?

• You are spending too much on discretionary items.

• You have an income problem, possibly due to high cost of living.

• You are saving too much money.

• You need to reduce your debt payments significantly.

If your essential spending is between 30-40% of your income, but you still experience financial stress, what is the most probable cause?

• Your income is too low for your area.

• You have an issue with uncontrollable essential expenses.

• You likely have a spending-related issue with discretionary funds.

• You are not investing enough for retirement.