P Finance Ch 3 Test Review

Which of the following is a consequence of overdrawing your checking account?

Which of the following statements is FALSE?

Your monthly budget should include...

Eating out is a

The envelope system works great for managing spending on things that donʹt normally have a fixed monthly expense.

Budgeting is crucial to your financial success.

Which of the following is NOT a record-keeping feature you could expect from your bank?

Having more than one bank account is never a good idea since it can complicate money management.

A debit card cannot be used for online purchases.

The zero-based budget is the best method of budgeting because...

Which of the following account records would have the most current balance?

The following are guidelines for budgeting with an irregular income except

Which of the following is something that a typical millionaire would do?

A written budget, if followed, removes _______ from your finances.

Rent is a

Online bill pay allows you to make payments to whomever you wish without having to write a check.

Car repairs are a

If you write a zero-based budget every month, it is not necessary to reconcile your account.

Writing and following a zero-based budget will help you avoid overspending and impulse purchases.

Doing a budget will NOT...

Groceries are a

ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing every month.

The number-one cause of divorce in North America today is stress and disagreements over money.

Automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases.

Percentage of Americans living paycheck to paycheck