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WorksheetsBudgeting Basics
Total questions: 14
Worksheet time: 14mins
A budget is helpful to keep track of what you earn and _________
bring to the table
get with extra money
spend
If you are trying to save money what should you do________(the best option)
cook dinner during the week
go out for dinner
go out for dinner and cook
Why is it important to track your spending?
it's a good decision
you can spend more money
You know how much money you are spending and saving
In you budget, what is MORE important ?
wants
needs
Why is it important to save money?
to have money in the bank
so you can meet your goals
to show others how to save
The first step in creating a budget is _________.
Know your expenses
Know your income
Write down your bills
Fixed or variable expense: Rent?
Variable
Fixed
Which one is a varied expense ?
paying your car payment
getting ice cream
Which one is a fixed expense ?
shopping for clothes
buying groceries
paying rent
"Pay yourself first" means to assign a portion of your income for your personal savings
True
False
Utilities like electric
Fixed
Variable
Which of the following is generally the most expensive category in a person’s budget?
Transportation
Housing
Food
Of all the choices, which one should you budget for first?
Cell phone bill
Groceries
New Car
If an expense can be cut from your budget to save money, it is considered a ______.
expense
savings
want
