Simple budgeting (including needs, wants, spending, saving and wise shopping practices)

Question 1

The sooner you start saving the better.

Accepted Answer

True

Question 2

Emergency funds are useful in case of unexpected expenses.

Accepted Answer

True

Question 3

One way of helping to prevent debt is by:

Accepted Answer

Not overspending

Question 4

Buying seasonal food will help you to save money.

Accepted Answer

True

Question 5

A budget is a plan that shows how much one can spend against what one earns over a period of time.

Accepted Answer

True

Question 6

Which of the following is a need?

Accepted Answer

Food

Question 7

Loans and full time jobs are both sources of income.

Accepted Answer

False

Question 8

When planning a budget, the expenses must not be greater than the sources of income.

Accepted Answer

True

Question 9

Which of the following is an example of an expense?

Accepted Answer

Bill

Question 10

I am feeling very hungry. This is the perfect time to go shopping.

Accepted Answer

False

Question 11

Making a shopping list and sticking to the list is a good shopping practice.

Accepted Answer

True

Question 12

Which of the following is a want?

Accepted Answer

Branded stationery

Question 13

Buy one, get one free deals are always a good choice.

Accepted Answer

False

Question 14

What should you do to manage and save your money wisely?

Accepted Answer

Plan a budget

Question 15

A goal can be reached by planning a good budget.

Accepted Answer

True

Question 16

When shopping you should always:

Accepted Answer

Shop around and compare prices

Question 17

Avoid buying items that you do not need.

Accepted Answer

True

Questions 17