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Worksheets50/15/5 Budgeting Quiz
Total questions: 10
Worksheet time: 5mins
_________ is the process of creating a plan to spend your money.
( Choose the most accurate answer)
Personal Finance
Investment
Budgeting
Credit
How is wealth defined?
How much money you have in your Checking and Saving accounts
How much money you have in your Checking and Saving accounts
Assets - Debts
Debts - Assets
Which of the following is FALSE about saving and investing? (Hint: choose 2 correct answers)
Saving doesn't outpace inflation; investing usually does
Both saving and investing generally have low returns
Saving is for short-term; investing is for the long-term
Saving has more risk; investing has less risk
Which of the following is NOT the essential expenses for an individual?
Pay monthly utilities bills through online banking system.
Buy new clothes for works in shopping malls.
Buy items from Shopee due to promotion.
Make payment on PTPTN every month.
Which is NOT a typical goal for a savings account?
To create an emergency fund
To pay for higher education
To save for a new car
To buy groceries for this week
How much should you save in an emergency fund?
1-3 months of living expenses
3-6 months of living expenses
6-9 months of living expenses
9-12 months of living expenses
What might you need to open a savings account? (Hint: choose 2 correct answers)
Minimum opening deposit
Your previous year's tax returns (or your parents')
The routing number to a checking account
Identification
What is 50/15/5 stands for?
50% on essential expenses, 15% on emergencies and 5 % on savings.
50% on savings, 15% on emergencies and 5 % on essential expenses.
50% on emergencies, 15% on essential expenses and 5% on savings.
50% on essential expenses, 15% on savings and 5% on emergencies.
Since the sum of fifty, fifteen and five is not equal to hundred percent, how can the remaining percentage of money being used?
Increase the retirement savings
save for another goal
throw more at debt
All the answers
"Everyone has the things which the needs to survive and the wants for luxury lifestyle. "
Which of the following is the NEEDs of an individual?
Buy a laptop for work.
Buy Branding Watches.
Trip to Disneyland with family.
Always go restaurant for meals.
