Three Types of Budgeting Expenses

Quiz
•
Other
•
8th Grade
•
Medium
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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