A Quiz On Budgeting And Saving Math 

Which is NOT a money management skill discussed in the reading material?

01

Estimating expenses

02

Managing your time in a healthy manner

03

Formulating a budget

A good example of a flexible expense is:

01

Rent

02

Life insurance payment

03

Grocery bill

Money in your emergency fund could be wisely used:

01

To buy a new pair of shoes that went on sale

02

To put money down on a new car

03

To pay for an unforeseen health expense

Flexible expenses refer to:

01

Expenses that are always unexpected

02

Expenses that can change

03

Expenses that never change

What are some typical expenses for a person just starting out in a rental apartment?

01

Interest income, tax refunds

02

Take-home pay, mortgage insurance

03

Rent, renters insurance, transportation costs

Preparing a budget is:

01

An ongoing process

02

Something you only have to do once in your lifetime

03

Not an effective way to save money

How much money should you save each month?

01

Always save 5% of your income

02

You must decide what you can afford

03

Save $50 from every paycheck

What area of expenses is best to target when looking for possible ways to cut back on spending?

01

Actual

02

Fixed

03

Flexible

A budget can help you reach a financial goal by:

01

Showing you how you can earn more income

02

Allowing you to see where you can cut back on spending

03

Giving you the tools to change more fixed expenses to flexible expenses

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