Personal Finance: Budget Quiz
Quiz
•
Mathematics
•
12th Grade
•
Practice Problem
•
Easy
+8
Standards-aligned
Shradha Shah
Used 3+ times
FREE Resource
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40 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a budget?
A list of things you want to buy
A spending plan outlining income, expenses, and financial goals
A loan from the bank
A savings account
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the main purpose of a budget?
To increase debt
To help take control of money and achieve financial goals
To spend as much as possible
To avoid tracking expenses
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT a reason why budgeting is important?
Helps you understand your relationship with money
Ensures you never spend money
Helps save for the future
Reduces financial stress
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the first step in creating a budget?
Spending all your income
Ignoring expenses
Outlining your income
Taking out a loan
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an example of a fixed expense?
Groceries
Rent
Eating at a restaurant
Buying clothes
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is an example of a variable expense?
Mortgage payments
Grocery Bills
Utility bills
Insurance premiums
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is one of the first decisions to make when buying a car?
What type of fuel the car uses
What type of car best fits your needs
Which dealership has the best deals
How quickly you can pay off the loan
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