WorksheetsBudgets
Total questions: 20
Worksheet time: 4mins
Which equation would add up adjacent (next to each other) expenses listed in your spreadsheet?
=SUM(A14,B14,C14)
=SUM(A14:A28)
= SUM(A14*2)
Which of these is a FIXED (consistent) expense?
Entertainment
Dining Out
Monthly Gym Membership
Renter's Insurance policy is usually for a period of
12 months
6 months
3 months
Which of the following is a FIXED expense?
Electricty
Car Loan
Food
What is the first step you need to take to create a budget?
Contact your bank
Phone a friend
Determine your expenses
What is the Golden Rule of Finance?
Save your paystub
Pay yourself first
Pay when you get to it
The 50-30-20 Budget suggests spending 30% of your monthly income on
Needs
Wants
Saving/debt reduction
Which of the following chart types displays trends over time?
Your monthly income is $3000. What is the minimum amount you should have accumulated in your emergency fund?
$3000
$9000
$5000
Housing (rent/mortgage) should not exceed what percentage of your budget?
20-25%
30-35%
18-20%
What is the outcome of $2000 (income) - $1800 (expenses)?
deficit
surplus
balanced
What is the purpose of a personal budget?
Make a plan to organize and manage your money
To create a surplus
Guarantee you earn more
What is an example of a flexible (controllable) expense?
Rent
Property Tax
Groceries
Which of the following chart types would show the percentage of expenses?
column/bar
gauge
pie
When should you begin saving for retirement?
As soon as possible
Whenever you get a raise
Before you're 40
If you have a monthly income of $3,000 and you follow the 50/30/20 budgeting rule, how much money should you save?
$600
$900
$1,500
$1,200
It is important to know where your money is going before you get your paycheck.
True
False
Mario realized he had a deficit budget. Which of the following expenses would be best for Mario to decrease spending to help him balance his budget?
Rent
Entertainment
Health Insurance
Which of the following would be considered a "need" rather than a "want"?
A new smartphone
Dining out at restaurants
Rent or mortgage payment
A vacation
Which type of chart is best for comparing data?
Bar/column
Line
Pie
