WorksheetsAdulting 101 - The Knows and No's of Finance
Total questions: 10
Worksheet time: 4mins
Puan Suraya Bujang is the president of
PurpleLily Social Organization
PinkLily Social Organization
What is the definition of a budget ?
A monthly savings to be used for personal necessities.
Allocation of money towards daily expenses.
A finance plan that allocates future personal income towards expenses, savings and dept repayments.
What are the 3 main components of a budget?
Savings
Income
Expenses
Debt
Budgeting can help you end up with lesser money to manage.
True
False
The following are examples of variable expenses EXCEPT
Groceries
Personal Care
Rent
Entertainment
'Outgoing fund you pay to others' is the definition of
Income
Expenses
Savings
Interest
Which of the following is NOT the benefit of the third-party financial tracking system?
Automate bill payments
Allow to connect with all accounts on a single dashboard
Review advertising before buying a product
Periodic expenses are
The same payment amount every month
Scheduled payments outside monthly payment routine
Routine expenses that are different each time you pay
The following are the effects of not budgeting EXCEPT
Overspending
Earning more money
Lack of future security
Falling into a dept cycle
You should set aside at least 10% of your total income for your savings.
False
True
