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WorksheetsSaving & Budgeting
Total questions: 11
Worksheet time: 6mins
What's one of the first rules of managing your money well?
Make a lot of money so you'll have more to spend.
Pay yourself first.
Pay your bills after you buy what you want.
What does "liquid" mean?
Water
Coffee
Tea
An asset that easily converts to cash/easy to spend.
What is a fixed expense?
An expense in which the amount changes month to month.
An expense that you don't have to pay every month, but is paid irregularly.
An expense that costs the same every month.
What is a variable expense?
An expense in which the amount changes month to month.
An expense that you don't have to pay every month, but is paid irregularly.
An expense that costs the same every month.
What is a periodic expense?
An expense in which the amount changes month to month.
An expense that you don't have to pay every month, but is paid irregularly.
An expense that costs the same every month.
Which should your life goals be?
Specific
Measurable
Realistic
Time bound
All of the above
Which types of savings should you have?
A piggy bank only
An emergency fund and 3-6 months' of expenses
Never use a bank account for savings.
How much money should you save each month?
10% of your income
1% of your income
300% of your income
None of your income
What is a budget?
Your debit card
A calendar
Your piggy bank
A plan on how to spend your money.
Which is an example of a fixed expense?
Groceries
Dining Out
Mortgage
Which is an example of a variable expense?
Car payment
Rent payment
Groceries
