WorksheetsBudgeting Unit Finance
Total questions: 17
Worksheet time: 10mins
When developing a budget, it is a good idea to “pay yourself first,” by saving a percentage of your paycheck before deciding how much money you have left to spend.
True
False
Which of the following are likely items most people see on their paycheck stub:
Gross pay
Mortgage deduction
Net pay
Medicare
Renter's Insurance
When putting together your personal budget, you find that your budget has a DEFICIT. Indicate the action that you need to take to balance your budget.
Increase your income and expenses by the same amount
Cut your expenses by an amount greater than your deficit
Increase your expenses by more than your deficit
Increase spending on your needs
Caitlin works at the local store. She works from 3pm - 7pm on Monday and Wednesday and each Saturday morning from 9am - 1pm. She gets paid $10 per hour. What will be Caitlin's weekly net (or take home) pay?
Exactly $120
More than $120
Less than $120
____1____ refers to the amount prior to tax withholdings and deductions.
(a)
(a) refers to the “take-home” amount after taxes have been withheld.
Jesse just bought a used Honda Civic and anticipates driving 10,000 miles per year. The car gets 25 miles per gallon and assume that the gas costs $3.00 per gallon. How much should Jesse budget for his annual gasoline cost?
$3.00
$400
$1200
$750
Pharmacy 1 is selling one pack of toilet paper with 10 rolls for $10. Pharmacy 2 is selling one pack of toilet paper with 48 rolls for $24. Which statement below is TRUE?
Pharmacy 1 has a lower unit price
Pharmacy 2's unit price is $2.00 per roll
Pharmacy 1 has a unit price of $.10 per roll
Pharmacy 2 has the lowest unit price of $0.50 per roll
Which of the following is NOT an effective budgeting strategy for saving money at the grocery store?
Always buy the item that's on sale
Stock up on basic pantry items that you can use to cook a lot of different meals
Prepare a grocery list before you go to the store, and avoid buying items that aren't on the list
Build a weekly meal plan around items you already own or items that are on sale that week, rather than just choosing foods you'd like to eat
50 percent of your budget should go toward
necessary items
wants/fun things
savings
20 percent of your budget should go towards
necessary items
wants/fun things
savings
30 percent of your budget should go towards
necessary things
fun items/wants
savings
Which of the following is NOT a reason should you inspect a property before you rent it?
To show off to your family and friends
To check on the condition of the property and get a feel for the surrounding neighborhood
To meet with the landlord or property manager to be sure that all of your questions are answered
To document any damage that you find with the property so it is repaired before you move in
The Cost of Living refers to:
The cost of relocating from one city to another.
The fluctuations in rent prices on a monthly basis in one specific area.
The prices of goods and services needed to sustain an average level of living in one area.
The average amount consumers spend on entertainment and dining out in a specific area.
True or False? Needs are established on a individual basis.
True
False
Which of the following will NOT influence the amount of money you spend monthly on car ownership?
Your age
The fuel efficiency of your car
The length of your car loan
The purchase price of your car
The Cost of public transportation
Which of the following is a fixed expense:
Loan payment on your car
Expenses for new clothes
Dining out at new restaurants
Groceries
