WorksheetsLiving Beneath Your Means Quiz
Total questions: 20
Worksheet time: 40mins
What does it mean to “live beneath your means”?
Spend all the money you earn
Spend more than you earn
Spend less than you earn
Borrow money for fun
Which of the following is an example of living beneath your means?
Buying the newest iPhone
Eating out every day
Shopping without a list
Packing your lunch
According to 'The Millionaire Next Door', most millionaires:
Spend lavishly
Show off their wealth
Live modestly and budget
Inherit all their money
What is one reason to live beneath your means?
To impress others
To build debt
To reach your financial goals faster
To spend more freely
What’s a good example of smart spending?
Buying something just because it's on sale
Comparing prices before you shop
Shopping when you’re sad
Impulse shopping online
What is NOT one of the “simple habits that build wealth”?
Track your spending
Set savings goals
Use a credit card and never pay it back
Learn about investing
Why do many people impulse buy?
They are saving money
They carefully planned the purchase
They are spending for emotional reasons
They made a shopping list
Why is living beneath your means NOT about how much you make?
It’s about your credit score
It’s about what you own
It’s about how much you keep
It’s about your job
Which of the following is an example of an impulse buy?
Buying a sweater after comparing prices
Grabbing candy at the checkout line
Saving up to buy a bike
Waiting 24 hours before buying shoes
What’s the best reason to avoid unnecessary debt?
It lowers your taxes
It helps you qualify for more credit cards
It helps build wealth
It makes shopping more fun
You should try to save a portion of every paycheck or allowance.
True
False
Shopping without a budget is a good way to live beneath your means.
True
False
Most millionaires were born wealthy.
True
False
Living beneath your means gives you more freedom and choices.
True
False
You can build wealth by tracking your spending and avoiding debt.
True
False
Which of the following is a good financial habit?
Avoiding budgeting
Paying credit card interest
Setting savings goals
Shopping when stressed
How can you resist impulse buying?
Shop when you’re emotional
Wait 24 hours before buying
Buy on credit
Avoid price comparisons
What does tracking your spending help you do?
Spend more on fun
Avoid saving
Understand where your money goes
Justify impulse purchases
Which of these can help you live beneath your means?
Setting no budget
Borrowing regularly
Shopping with a list
Avoiding all savings
What mindset helps build wealth over time?
Show off your success
Save and invest wisely
Focus only on income
Spend now, worry later
