TLE 9 QUIZ

It is a written outline of the list of expenditures to be spent in the future.

• Budget

• Cash Flow

• Financial Report

These include house rental, maitenance cost or home improvement, and real estate taxes.

• Food

• Shelter

• Health

Wise spending of money

• Fiscal Discipline

• Fiscal Prudence

Ability to manage money and resources effectively and properly

• Fiscal Discipline

• Fiscal Prudence

What is the importance of setting financial goals in practicing fiscal prudence?

• It helps in making impulsive purchases

• It provides a clear roadmap for saving, spending, and investing

• It encourages financial irresponsibility

• It eliminates the need for a budget

Which financial behavior does NOT align with fiscal prudence?

• Regularly reviewing and adjusting your financial plan

• Making informed and deliberate spending decisions

• Ignoring credit card balances and not paying them off

• Saving a portion of your income regularly

Why is maintaining an emergency fund considered a part of fiscal prudence?

• It allows for spontaneous luxury purchases

• It encourages taking on more debt

• It avoids having any liquid cash

• It provides a financial cushion in case of unexpected expenses

Some people would earn money, then spend it, and if they run out of it, they borrow money and spend again. These people cannot live within their means; hence, they resort to borrowing to meet other expenses.

• Earn/spend group

• Earn/spend/save group

• Earn/spend/borrow/

  spend group

• Earn/ save/spend group

Those who believe strongly in saving befor spending as a form of financial security in times of need.

• Earn/spend group

• Earn/spend/save group

• Earn/spend/borrow/

  spend group

• Earn/ save/spend group

Here are people who earn, spend, and save because they believe that saving is good for the future. 

• Earn/spend group

• Earn/spend/save group

• Earn/spend/borrow/

  spend group

• Earn/ save/spend group