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Budgeting Flashcards | StudBud
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Budgeting
Budgeting
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Test your budgeting knowledge
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
_____ is commonly considered a flexible expense.
Entertainment
Rent
Home insurance
Mortgage payment
2
A common long-term goal may involve saving for college for parents of anewborn child.
False
True
3
Rent is considered a fixed expense.
False
True
4
A clearly written financial goal would be:
“To save money for college for the next five years”
“To pay off credit card bill in 12 months”
“To establish an emergency fund of $4,000 in 18 months”
“To invest in an international mutual fund for retirement”
5
An example of a long-term goal would be:
saving for retirement
an annual vacation
completing college within the next six months
buying a used car
6
Flexible expenses stay about the same each month.
False
True
7
What are ways you can manage your budget and spending?
Use a banking app
Remember
Why do that?
Create a spreadsheet
8
An example of a fixed expense is:
an electric bill
clothing
educational expenses
auto insurance
9
Most short-term goals are based on activities over the next two or three years.
True
False
10
The budgeting process starts with monitoring current spending
False
True
