Budgeting Assessment - NGPF Prep

Goal: Save $10,000. Annual salary is $54,000. If saving 10%/month, how long to reach goal?

Budgeting for a health insurance premium is

Based on recommended budgeting, which apartment would you choose if your NET pay was $2,750?

Which of the following is a signal that you have a budget DEFICIT?

Your annual salary is $58,000. Income taxes are 25%. What is your GROSS annual pay?

When paying your bills, a grace period is

Brad buys all name-brand clothing. Sam buys clothing at Walmart. Who is budgeting correctly?

All the following are proactive and responsible money management skills but one; which one?

Why should your budget include auto insurance premiums?

What WON'T decrease your GROSS pay?

Which best describes the advice of "Pay Yourself First"?

Which factors impact the total cost of buying a new car?

Which cost would be more DIFFICULT to adjust if you were trying to reduce your expenses?

To rent an apartment, landlords usually require

Which of the following are associated costs when purchasing a car on credit?

The longer the loan, the more interest owed; paying on the principal will reduce the total cost

Which is true of a student loan is part of your monthly budget?

You have a budget deficit of $200 at the end of two months in a row. A good option would be to

Which of the following is NOT a good budgeting strategy when grocery shopping?

After fed., state, & SS Taxes, pay = $3,000 Before taxes pay is $3,500. What is true of this?

A college graduate can extend their college health plan coverage for years after graduating.

When budgeting for health insurance, copays and deductibles are

What is a sign of poor budgeting practice?

Net Pay = $2000; Bills are $1425 rent, $325 car payment, food $175, cell phone $100, cable $50.

Which of the following would decrease if you rented an apartment with roommates?

You work 15 hrs./week @ $10/hr. You work 50 weeks/year. Calculate NET pay if taxed at 20%.