Budgeting Pre-Test

Although the majority of Americans think budgeting is important, about what percentage of Americans actually use a budget?

• Majority

  75%

• About half

  50%

• Low

  35%

• Few

  25%

Which of the following is NOT a component of a budget?

• Giving

• Income

• Savings

• Credit Score

What are the four foundations of a budget?

• Utilities

  College Fund

  Restaurants

  Car Insurance

• Cell Phone Bill

  Car Insurance

  Shelter

  Money for Movies

• Food

  Utilities

  Transportation

  College Fund

• Food

  Utilities

  Shelter

  Transportation

About how many categories should you have in your budget?

• 15 or more

• No more than 10

• At least 3

• No limit; use as many as you need to keep your budget accurate.

If you get married, only one person is responsible for budgeting.

• True

• False

What does a budget show you?

• How much money you plan to come in and go out during the month.

• How much you need to save.

• How much money you need to earn.

• How much money you spent last month.

Detailed categories on our budget will help you make better spending decisions.

• True

• False

A budget says what will happen with your money, while a cash-flow statement shows what already happened.

• True

• False

Your money personality can affect your...

• Ability to budget

• Personal Values

• Choice of bank

• Attitude toward budgeting

Research shows that nearly half of Americans (46%) feel stress and anxiety about the amount of _______ they have.

• Personal debt

• Categories in their budget

• Debit cards

• Money