Three Types of Budgeting Expenses

Three Types of Budgeting Expenses

8th Grade

10 Qs

quiz-placeholder

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Three Types of Budgeting Expenses

Three Types of Budgeting Expenses

Assessment

Quiz

Other

8th Grade

Medium

Created by

Lisa Canty

Used 8+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of setting financial goals?

The purpose of setting financial goals is to ignore financial planning and decision-making.

The purpose of setting financial goals is to plan and prioritize financial decisions, track progress, and achieve desired outcomes.

The purpose of setting financial goals is to restrict spending and limit financial freedom.

The purpose of setting financial goals is to increase debt and financial instability.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to have a budget?

To overspend and accumulate debt, to have no financial goals, and to be financially irresponsible.

To track and control spending, save for future goals, and avoid debt.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are three types of budgeting expenses?

Savings, Retirement, and Salary.

Fixed, Periodic, and Variable

Invest, Stocks, and Bonds

There is no types of budgeting expenses.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a Fixed Expense?

Home Repairs.

New Washer and Dryer

Monthly Rent

None of these are examples of a fixed expenses.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a Periodic Expense?

Car Repairs

Water Bill

Car payment

None of these are examples of periodic expenses.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the benefits of tracking your expenses?

Understanding spending habits, saving money, creating a budget, achieving financial goals

Tracking expenses is only necessary for people with high incomes

Tracking expenses can lead to overspending

Tracking expenses is a waste of time and effort

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which is an example of a Variable Expense?

Groceries

Phone Bill

Electircal Bill

None of these are examples of variable expenses.

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