Personal Finance Chapter 2: Budgeting Questions With Correct Answers

Personal Finance Chapter 2: Budgeting Questions
With Correct Answers
35% Correct Answer-Although the majority of Americans think
budgeting is important, about______ of Americans actually use a
budget.
1. 75%
2. 50%
3. 23%
4. 35%


credit score Correct Answer-Which of the following is NOT a
component of a budget?
1. Giving
2. Income
3. Saving
4. Credit score


Food, utilities, shelter, and transportation Correct Answer-What are the
Four Walls?
1. Utilities, college fund, restaurants, and car insurance
2. Cell phone bill, car insurance, shelter, and money for the movies
3. Food, utilities, transportation, and college fund,
4. Food, utilities, shelter, and transportation

, false Correct Answer-Online budgeting apps are more effective than
budgeting with pen and paper.
True
False


No limit; use as many as you need to keep your budget accurate! Correct
Answer-How many categories should you have in your budget?
1. 15 or more
2. No more than 10
3. At least 3
4. No limit; use as many as you need to keep your budget accurate!


monthly Correct Answer-How often should you create a budget?
1. Daily
2. Weekly
3. Monthly
4. Biannually


false Correct Answer-If you get married, only one person is responsible
for budgeting.
True
False