EVERFI Module 3 Test - Budgeting (Answered)
1. Which of the following is a benefit of using a budget?
a. Helps to keep track of the money you receive b. Helps to prioritize your spending
c. Helps reach short- and long-term financial goals d. All of the above: d
2. Which of the following is NOT a benefit of using a budget?
a. a budget can help you purchase anything you want. b. a budget can help you keep track
of your money.
c. a budget can help you make plans to reach your financial goal.
d. a budget can help you decide the importance of your expenses.: a
3. Why is using a budget beneficial?
a. helps to keep track of the money you receive. b. helps to prioritize your spending.
c. helps reach short- and long-term financial goals. d. All of the above.: d
4. Which of the following should NOT be considered when setting a current budget?
a. your financial goals b. future income
c. needs and wants d. savings: b
5. Which of the following should you consider when setting a budget?
a. your financial goals b. needs and wants
c. savings
d. all the above: d
6. What should be considered when setting a budget?
a. needs and wants b. savings
c. time management goals
d. needs, wants, and savings: d
, 7. are good places to look to find your current expenses when building
your budget.
a. banks and credit unions
b. grocery stores and concerts c. banks and credit statements d. online research websites: c
8. Where should you look to find our current expenses when building your budget?
a. ask your parents b. your wallet
c. bank and credit statements d. your bank representative: c
9. Bank statements, credit statements, and records of cash expenses help you to estimate
your .
a. credit score
b. emergency fund needs c. expenses
d. available investments: c
10. In addition to needs, what should you plan for first when creating a budget?
a. possible charitable donations b. shopping money
c. investments
d. recurring expenses: d
11. In your budgeting process, when should you look at recurring expenses?
a. before reviewing your wants
b. after considering entertainment expenses c. before looking at your needs
d. after your wants but before your needs: a
12. Which of the following statements is TRUE?
a. recurring expenses don't need to be planned for because they rarely happen.
b. recurring expenses are expenses that can never be stopped.
c. recurring expenses should be planned for after looking at your wants. d. none of the
above.: d
13. Which of the following is a way to track your spending?
1. Which of the following is a benefit of using a budget?
a. Helps to keep track of the money you receive b. Helps to prioritize your spending
c. Helps reach short- and long-term financial goals d. All of the above: d
2. Which of the following is NOT a benefit of using a budget?
a. a budget can help you purchase anything you want. b. a budget can help you keep track
of your money.
c. a budget can help you make plans to reach your financial goal.
d. a budget can help you decide the importance of your expenses.: a
3. Why is using a budget beneficial?
a. helps to keep track of the money you receive. b. helps to prioritize your spending.
c. helps reach short- and long-term financial goals. d. All of the above.: d
4. Which of the following should NOT be considered when setting a current budget?
a. your financial goals b. future income
c. needs and wants d. savings: b
5. Which of the following should you consider when setting a budget?
a. your financial goals b. needs and wants
c. savings
d. all the above: d
6. What should be considered when setting a budget?
a. needs and wants b. savings
c. time management goals
d. needs, wants, and savings: d
, 7. are good places to look to find your current expenses when building
your budget.
a. banks and credit unions
b. grocery stores and concerts c. banks and credit statements d. online research websites: c
8. Where should you look to find our current expenses when building your budget?
a. ask your parents b. your wallet
c. bank and credit statements d. your bank representative: c
9. Bank statements, credit statements, and records of cash expenses help you to estimate
your .
a. credit score
b. emergency fund needs c. expenses
d. available investments: c
10. In addition to needs, what should you plan for first when creating a budget?
a. possible charitable donations b. shopping money
c. investments
d. recurring expenses: d
11. In your budgeting process, when should you look at recurring expenses?
a. before reviewing your wants
b. after considering entertainment expenses c. before looking at your needs
d. after your wants but before your needs: a
12. Which of the following statements is TRUE?
a. recurring expenses don't need to be planned for because they rarely happen.
b. recurring expenses are expenses that can never be stopped.
c. recurring expenses should be planned for after looking at your wants. d. none of the
above.: d
13. Which of the following is a way to track your spending?
