Worksheets2.5 Next Level Budgeting
Total questions: 5
Worksheet time: 2mins
Spending money on items that are seen as trendy or expensive can project a certain image but
can lead to unwanted debt
can break your budget
is always a bad idea
can make people jealous
The root cause for a student spending more than she has is that she ______.
does not keep track of her spending
occasionally makes impulse buys
purchases things online
has no emergency fund
What is NOT an effect of long-term overspending?
Expenses exceed income
Use if debt and credit increases
Credit counseling becomes necessary
Impulse buying occurs on a regular basis.
What is the NMI used for?
It is the amount of income used to determine your monthly spending budget
NMI is the amount of your variable expenses.
It determines your fixed expenses.
NMI is your discretionary allowance.
What is the amount of income remaining after all bills and obligations are paid that can be used to purchase wanted goods and services?
Discretionary income
Variable expenses
Overconsumption
Luxury spending
