John is planning to use the zero based budget for his finances. What is the first step he should take in creating his budget?

• John should write down his monthly income

• John should write down and total his expenses for the month

• John should figure what his seasonal or irregular expenses might be for the month

• John should subtract all expenses from income for the month

According to the zero based budget, what is the third step in creating your budget?

• Write down your monthly income

• Write down and total your expenses for the month

• Figure what your seasonal or irregular expenses might be for the month

• Subtract all expenses from income for the month

According to the zero based budget, what is the forth step in creating your budget?

• Write down your monthly income

• Write down and total your expenses for the month

• Figure what your seasonal or irregular expenses might be for the month

• Subtract all expenses from income for the month

People that budget and are good with their money say;

• Your money works for you

• You work for your money

According to the zero base budget all of the following are good ways to save money and budget EXCEPT;

• Don’t go out to dinner 🥘/ eat out less

• Buy used cars 🚘

• Use coupons or wait to buy something until it’s on sale

• Use all of your savings and take out loans with high interest rates whenever you can’t afford expenses

The goal of a budget is _________________.

• to spend more than you make

• to spend less than you make

What is investing?

• A short-term commitment to meet unexpected shortfalls. Helps meet short-term goals.

• A long-term approach to watch your money grow. Helps you meet long-term goals.

Which of the following statements best explains the purpose behind diversifying your portfolio.

• All's well that ends well
• Don't put all your eggs in one basket
• Everything in moderation.
• Just do it.

—Buying little pieces of a whole lot of different companies

• Stocks
• Bonds 
• Mutual funds
• T-bills

Why is it important to start investing as soon as possible?

• You take less risk when you are young, so money will be safe

• You have more time for your money to compound

• Investing is an easy way to make quick money

• Fees on investments are cheaper when you are younger